The French Federation of Rugby (FFR) have approved CVC’s five-year deal worth £365million that will see them buy into the Six Nations in a statement this afternoon.
FFR President Bernard Laporte issued the following statement this afternoon: “The world of sport is severely affected by the health crisis. Sports federations around the world are losing part of their revenue.
“It is our responsibility to find solutions and provide a future for French and European rugby. Despite this very difficult environment, investment companies like CVC have identified rugby as a strong, solid and up-and-coming asset.
“Our sport, through the emotions it generates, the pleasure it gives and the values it embodies, seduces and arouses interest.
“If this partnership project were successful, CVC would thus become the 7th partner of the Six Nations, to help the Federations to develop their economic potential over time. At the same time, the Federations would retain their exclusive power to regulate sports practice and organize competitions.
“This is a great opportunity for European and French rugby.”
The purchase of a stake in the Six Nations by CVC has long been rumoured but it has now been reported that agreement has finally been reached with the six rugby unions for the sale of 14.5 per cent of commercial right belonging to the tournament.
Full approval of the deal is expected before the 2021 championship starts with his opening round of matches on the weekend of February 6.
It has taken two years of negotiations to reach this stage and although the sport has been impacted by the pandemic, it is believed the 2021 tournament will go ahead as currently planned.
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