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Leicester Tigers end their nine-month search for a new owner

(Photo by Henry Browne/Getty Images)

Leicester Tigers are no longer up for sale after the club pulled the plug on the process due to a lack of offers. It was June last year, on the back of the dividend received by CVC Capital Partners buy into the Gallagher Premiership, that the club was put on the market in the hope that a potential £60million sale could help the Tigers return to the top of English rugby again.  

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At the time, the CVC pay-out had left Tigers debt-free and club officials believed their set-up was now an attractive opportunity for an investor to grow commercial revenues and accelerate development plans. 

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However, those aspirations have not come to pass in the nine months since, resulting in Leicester’s Wednesday morning announcement via their website that the club was now off the market and instead some new appointments had been made to the board.

“The board of Leicester Tigers confirms that the formal sale process initiated on June 25, 2019, under the city code on takeovers and mergers, has now ended and the company is no longer in an offer period as defined under the code,” read their announcement on leicestertigers.com.

“Despite a high level of interest from potential new investors, the board has concluded that it is unlikely an offer for the company will materialise from an investor who shares the club’s vision of the future and at a value attractive to shareholders.

“The board has made a number of appointments to ensure it has the necessary mix of skills and experience in order to implement its strategy for the club. It is delighted to announce the appointments of Fintan Kennedy and Duncan Green as non-executive directors.

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“Taken together, the impact on an uncertain market of Brexit and now Covid-19 have created significant challenges for all clubs this season.

“It nonetheless remains the case that attractive growth opportunities are within English rugby’s grasp and will benefit clubs, players and fans alike. 

“Given its status as the country’s premier rugby club in terms of supporter base and track record, the board is optimistic that its strategy for the club will return it to the top of the English and European game as rugby attracts new audiences and explores exciting new opportunities.”

Executive chairman Peter Tom said: “While we were pleased with the level of interest in the club, none of the prospective new investors were judged to fulfil our criteria.

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“Now our immediate focus is on managing the ongoing impact of the Covid-19 pandemic and doing all we can to safeguard the wellbeing of Tigers staff, players and fans.

“We have devoted considerable energy to improvements on and off the field and remain confident that we have the right long-term strategy for the club.”

Kennedy brings a wide range of finance experience and is a fellow of the Institute of Chartered Accountants in England and Wales. He currently serves as finance director of Sealyham Investments and holds non-executive directorships with Super League Triathlon and the Financial Services Opportunities Investment Fund. He will chair the audit committee.

Green is managing partner of Pick Everard, which he joined in 1983. A chartered civil engineer, he is also a trustee and director of the Leicester Grammar School Trust, local charity Hope Against Cancer and a member of the Leicester Cathedral development board.

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JW 11 minutes ago
'Passionate reunion of France and New Zealand shows Fabien Galthie is wrong to rest his stars'

Where? I remember saying "unders"? The LNR was formed by the FFR, if I said that in a way that meant the 'pro' side of the game didn't have an equal representation/say as the 'amateur' side (FFR remit) that was not my intent.


But also, as it is the governing body, it also has more responsibility. As long as WR looks at FFR as the running body for rugby in France, that 'power' will remain. If the LNR refuses to govern their clubs use of players to enable a request by FFR (from WR) to ensure it's players are able to compete in International rugby takes place they will simply remove their participation. If the players complain to the France's body, either of their health and safety concerns (through playing too many 'minutes' etc) or that they are not allowed to be part in matches of national interest, my understanding is action can be taken against the LNR like it could be any other body/business. I see where you're coming from now re EPCR and the shake up they gave it, yes, that wasn't meant to be a separate statement to say that FFR can threaten them with EPCR expulsion by itself, simply that it would be a strong repercussion for those teams to be removed (no one would want them after the above).


You keep bringing up these other things I cannot understand why. Again, do you think if the LNR were not acting responsibly they would be able to get away with whatever they want (the attitude of these posters saying "they pay the players")? You may deem what theyre doing currently as being irresponsible but most do not. Countries like New Zealand have not even complained about it because they've never had it different, never got things like windfall TV contracts from France, so they can't complain because theyre not missing out on anything. Sure, if the French kept doing things like withholding million dollar game payments, or causing millions of dollars of devaluation in rights, they these things I'm outlining would be taking place. That's not the case currently however, no one here really cares what the French do. It's upto them to sort themselves out if they're not happy. Now, that said, if they did make it obvious to World Rugby that they were never going to send the French side away (like they possibly did stating their intent to exclude 20 targeted players) in July, well then they would simply be given XV fixtures against tier 2 sides during that window and the FFR would need to do things like the 50/50 revenue split to get big teams visiting in Nov.

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