Six Nations issues statement following weekend Laporte claim deal is done with CVC
Six Nations have issued a statement following recent speculation surrounding the status of its negotiations with CVC Capital Partners. World Rugby vice-chairman Bernard Laporte had revealed last weekend that CVC would acquire a 14.5 per cent stake in the Six Nations tournament.
The former France head coach revealed the news publicly at an FFR AGM after the estimated £400,000million-plus buy-in had been delayed by the global coronavirus pandemic.
On foot of the Laporte revelation, Midi Olympique reported that France were set to bag at least €75m (£67.5m) over five years in a Six Nations deal that would come at the perfect time for cash-strapped unions who are forecast to lose millions due to pandemic lockdown.
RugbyPass reported last year that the CVC deal could see some Six Nations matches no longer broadcast on free-to-air television, a move that would inevitably cause controversy in the sport.
However, in light of the recent media headlines prompted by Laporte’s claim, Six Nations officials have moved to claim that the process is nowhere near yet concluded for a buy-in deal by an investment company that already has shares in both the Gallagher Premiership and the Guinness PRO14.
REPORT: Big news appears to be emerging from France. https://t.co/nbOllaCmZ3
— RugbyPass (@RugbyPass) July 5, 2020
The statement read: “Over the past year, Six Nations has been involved in exclusive negotiations with CVC Capital Partners. These negotiations have been very constructive and forward thinking.
“Negotiations of this nature are complex. They can take significant time and at this point, are still ongoing. An agreement is not to be expected imminently and it would be inaccurate to present it as a formality.
“There is no set timeline for completion of this process, and any agreement, if it were to go ahead, would not be accelerated due to any potential challenge presented by the current external environment.”
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