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Private equity firm CVC Capital Partners has continued its advances on the sport of rugby union after acquiring a significant stake in the Guinness Pro14 multi-national club competition.
The London-based investment company will pay a reported UK£120 million for a 28 per cent share in Pro14 Rugby though its CVC Fund VII.
CVC is buying the stake from the league’s organising body, Celtic Rugby DAC, and its member unions in Wales, Ireland, Scotland and Italy, who will continue to retain a 72 per cent majority share in the competition.
As part of the agreement, which was first reported several months ago, the Italian Rugby Federation (FIR) will become a member of Celtic Rugby DAC and receive a share of the investment.
A statement from Pro14 Rugby said CVC’s investment would enable the unions ‘to continue to invest in the sport, both professional and amateur, to achieve its potential over the long term.’
A portion of the funds will also be used ‘to invest in further capabilities for the business and in upgrading league operations’, added the statement.
With 24 offices around the globe and US$82.4 billion worth of assets under management, CVC Capital Partners is one of the world’s largest private equity firms, and has previously owned significant stakes in Formula One and MotoGP.
In recent months, the company has taken a keen interest in rugby union, acquiring a 27 per cent holding in Premiership Rugby, the top tier of the English club game, and entering into talks over a proposed UK£300 million investment in the Six Nations international tournament.
Following CVC’s investment, Martin Anayi will retain his role as chief executive of Pro14 Rugby while the four member unions will remain independently responsible for the sporting and regulatory elements of the league.
“CVC’s show of faith has been impressive and is in keeping with their proven track record of success when it comes to sports investment, including Formula One, MotoGP and Premiership Rugby,” said Anayi.
“This partnership allows all of our stakeholders to plan for a sustainable period of growth, which will benefit the game, the players and our fans.
“We are very pleased to partner with CVC, who saw us as an ambitious, fast-paced and innovative organisation, situated across a number of core rugby nations that can deliver an increasing impact.”
CVC Capital Partners has continued its advances on the sport of rugby union after acquiring a significant stake in the Guinness Pro14
Private equity firm CVC Capital Partners has continued its advances on the sport of rugby union after acquiring a significant stake in the Guinness Pro14 multi-national club competition.
The London-based investment company will pay a report UK£120 million for a 28 per cent share in Pro14 Rugby though its CVC Fund VII.
CVC is buying the stake from the league’s organising body, Celtic Rugby DAC, and its member unions in Wales, Ireland, Scotland and Italy, who will continue to retain a 72 per cent majority share in the competition.
As part of the agreement, which was first reported several months ago, the Italian Rugby Federation (FIR) will become a member of Celtic Rugby DAC and receive a share of the investment.
A statement from Pro14 Rugby said CVC’s investment would enable the unions ‘to continue to invest in the sport, both professional and amateur, to achieve its potential over the long term.’
A portion of the funds will also be used ‘to invest in further capabilities for the business and in upgrading league operations’, added the statement.
With 24 offices around the globe and US$82.4 billion worth of assets under management, CVC Capital Partners is one of the world’s largest private equity firms, and has previously owned significant stakes in Formula One and MotoGP.
In recent months, the company has taken a keen interest in rugby union, acquiring a 27 per cent holding in Premiership Rugby, the top tier of the English club game, and entering into talks over a proposed UK£300 million investment in the Six Nations international tournament.
Following CVC’s investment, Martin Anayi will retain his role as chief executive of Pro14 Rugby while the four member unions will remain independently responsible for the sporting and regulatory elements of the league.
“CVC’s show of faith has been impressive and is in keeping with their proven track record of success when it comes to sports investment, including Formula One, MotoGP and Premiership Rugby,” said Anayi.
“This partnership allows all of our stakeholders to plan for a sustainable period of growth, which will benefit the game, the players and our fans.
“We are very pleased to partner with CVC, who saw us as an ambitious, fast-paced and innovative organisation, situated across a number of core rugby nations that can deliver an increasing impact.”
