London Irish owner turned down 'two or three' offers to buy club
Mick Crossan, the London Irish owner who has seen the Premiership outfit suspended from the league and forced into administration, turned down according to insiders “two or three” offers from investors wanting to buy the club before the failed bid by an American consortium.
The previous offers to buy Irish included a consortium of five businessmen – three of whom were based in Ireland – who made an offer to buy Crossan out in 2018 in a £3.6m deal. It is understood, this was just one of the offers Crossan received during his tenure with one insider stating: “Mick had opportunities to sell over the years but wouldn’t.”
RugbyPass has been told that “2 to 3” offers were made for the club. Another potential investor also looked at Irish at the same time as the American consortium but he could not see how to make it work, considering the debts the club had accrued. These are thought to include rent owed to Brentford FC for use of the stadium. Brentford FC refused to comment “on commercially confidential aspects of our relationship” when questioned about claims Irish had not paid their rent for the use of the stadium for three months.
There are now suggestions that the Irish Rugby Football Union may be interested in trying to revive the club to increase the playing opportunities for Irish talent, however, a former club official said: ”I cannot see that is feasible unless they are thinking about working with he amateur section of London Irish.”
In his open letter to fans Crossan said said: “I have publicly stated, on numerous occasions, that I would be willing to pass on the stewardship of the club if we could find the right person or group to take it forward and secure its long-term future. After a decade of supporting the club financially, it is not feasible for me to continue absorbing the multi-million-pound losses of the club each year, indefinitely.”
The failure to complete a deal with an American based consortium on Tuesday, who claimed they were willing to take on the club’s debts of £30m, saw Irish suspended from all league activity and triggered administration. It marked a devastating end for a club that finished fifth in the Gallagher Premiership having moved from Reading to the Gtech Stadium at Brentford to try and build a secure future.
In 2013 Crossan had led his own consortium, which also included businessman Phil Cusack, to buy London Irish in a deal reported to be worth £2.5million.
Crossan, who was the majority shareholder and club president, confirmed in 2018 a discussion with a group of investors had taken place but reaffirmed his long-term commitment to the Exiles.
The Irishman, who is also the founding owner of waste management company Powerday, said at that time: “This year London Irish is 120 years old and I want to make sure that the club is secure for the next 120 years.
“I am very much on board with the club for the long-term but we have been speaking to a number of investors about joining the current shareholders to help the club develop to the next level to become a real contender in the Aviva Premiership.
“The process is in the early stages but as you would expect with a club that has such a rich history, passionate supporter base and strong credentials, we have received a number of investment enquiries, however, London Irish will only entertain working with investors that offer long-term security and share the same passion for the club that the existing shareholders have.”
However, at that point it was estimated Irish needed investment of £10million over the next three year as they were then paying substantial rent to be based at the Madejski Stadium in Reading.
Comments on RugbyPass
The best outside centre in the world at one point. He will be greatly missed.
2 Go to commentsYip his great for the big moments when needed as a safa really enjoy watching him
4 Go to commentsOne that will start to come up from now on is penalties for back pushes during kick chase scrambles. Very difficult to detect. In Croke Park if you replay the Hendy NH try, you will see Furbank push Porter in the back, who collides with Larmour knocking the ball across into Hendy’s path to dot down. A more significant example was in the RWC QTR final where Arendse pushes Fickou into two other French players for the ball to spill into Arendse’s path for him to gather and run in to score SAs first try. Not cheating if you are not caught and very difficult to spot but with kicking becoming so critical I feel its an area that will referreeed/TMO-ed more.
3 Go to commentsWhat a pathetic little twit Andy Goode is, as if we care what he thinks…..😂
114 Go to commentsFoxy has been a wonderful player for the Scarlets and Wales.
2 Go to commentsNika the Georgian is the best referee in the world at the moment. Luckily we will be spared the shite SH refs and Barnes will hopefully remain retired given how shite and embarrassing he was at the RWC.
3 Go to commentsThis is the most exciting game of the summer imo, as we really won’t know in advance how both teams are going to play. - Will Robertson just reproduce his Crusaders tactics from last year, or will there be a conscious effort to borrow from the Hurricanes and Blues, and from the aspects of the ABs world cup strategy that worked well? - England under Borthwick have put in some good performances playing attacking rugby, and some good performances playing kick-oriented defensive rugby. Will Borthwick try to merge them together into a single all-court game, or will he continue switching between different approaches depending on the strengths and weaknesses of the opposition?
1 Go to commentsI’m predicting an aggregate points difference of no more than +/-10pts across both matches this series.
1 Go to commentsI’m predicting an aggregate points difference of no more than +/-10pts across both matches this series.
9 Go to commentsFinals are always tense affairs for the players so I do not expect this to be a spectacle of running rugby unfortunately.
3 Go to commentsBulls***': Ex-England international calls out Eben Etzebeth… Not to his face but from very far away… after he’d left. Checked to make sure he wasn’t in the building.
114 Go to commentsHopefully this will mean a new Auckland league team to support in the west. Big Warriors fan but it’s very, very stale on that front and I’d like the option of another team if it was to watch league again. League needs to step up BIG time if its to get anywhere, another AK team and something from the capitol or south is a must for the game.
3 Go to commentsGood, deep interview, nice job Frankie!
1 Go to commentsNRL players don’t have anywhere near the number of Tests. Some people would be happy having Rest Homes full if 40 yo ex-players walking, or hobbling more like it, into walls. It’s just a game!
4 Go to commentsNOW Razor is worried about ABs getting injured or overplayed! Didn’t bother him last year. He happily played his AB Crusaders.
4 Go to commentsWhat is the World Rugby U20 players born year.
2 Go to commentsMuch like the Chiefs finally gave up waiting for Atu Moli to ever not be injured, you have to wonder if the Chiefs and Crusaders will let Josh Lord and Ethan Blackadder go next season. They’re being well paid to sit in the injury ward every year. Better off putting those funds towards someone who might actually play.
7 Go to commentsShowed better basic skills than some nz Super sides, who probably would have botched some of those backline moves. This tournament really is too short though. Needs more teams, or have them play two rounds to properly prepare them for the near full-time NH U20 sides.
4 Go to commentsGood grief it’s only six months. Probably just upset it’s not an established kiwi entering their prime they can “project” into green to join the rest.
3 Go to commentsGood player but far from being best in the world. That's an exaggeration. Perhaps Best in world by Northern Hemisphere standards and biasis but certainly not Southern Hemi standards
4 Go to comments