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Premiership make decision on CVC investment proposal

Premiership Rugby make investment decision. (Photo by Harry Trump/Getty Images)

Premiership owners have turned down an £275m offer from CVC Capital Partners for a controlling stake in Premiership Rugby.

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It had been rumoured that it would be turned down with clubs believing the Premiership is worth far more and were wary of ceding control to a fund which used to own Formula 1.

The Board met on Tuesday to discuss the proposal and in a statement issued this evening the Premiership said. “The Board of Premiership Rugby had a scheduled meeting today which among other things considered options to support the next phase of growth for Club rugby in England.

Gallagher Premiership Rugby and the associated Premiership Rugby business has shown strong growth as its domestic and international appeal has continued to broaden, providing the backdrop for discussions to bring a new injection of investment into the game.

Audiences last season on BT Sport grew by 11% and that rise has continued this season. The competition is now shown in 200 countries and with Gallagher as title partner and the first-ever match on the NBC network (as opposed to NBC Sports) next month, there is a rapidly growing following in the US.

“Premiership Rugby has seen very good growth over the last five years with revenues rising more than 80% – so the desire to accelerate that growth and expand internationally was reaffirmed by all clubs today,” said Premiership Rugby chairman, Ian Ritchie.

“We had a very positive Board discussion and considered a range of alternatives to accelerate investment in the Club game. The Board was unanimous on how to proceed and agreed that selling a majority stake was not the preferred option.

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“We shall now develop these options further with our advisors and the interested parties ahead of the next Board meeting.”

In other news: Rassie Erasmus discusses future

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Hellhound 30 minutes ago
South Africa player ratings | 2024 Autumn Nations Series

There is this thing going around against Siya Kolisi where they don't want him to be known as the best national captain ever, so they strike him down in ratings permanently whenever they can. They want McCaw and reckons he is the best captain ever. I disagree.


Just like they refuse to see SA as the best team and some have even said that should the Boks win a third WC in a row, they will still not be the best team ever. Even if they win every game between now and the WC. That is some serious hate coming SA's way.


Everyone forget how the McCaw AB's intimidated refs, was always on the wrong side, played on the ground etc. Things they would never have gotten away with today. They may have a better win ratio, but SA build depth, not caring about rank inbetween WC's until this year.


They weren't as bad inbetween as people claim, because non e of their losses was big ones and they almost never faced the strongest Bok team outside of the WC, allowing countries like France and Ireland to rise to the top unopposed.


Rassie is still at it, building more depth, getting more young stars into the fold. By the time he leaves (I hope never) he will leave a very strong Bok side for the next 15- 20 years. Not everyone will play for 20 years, but each year Rassie acknowledge the young stars and get them involved and ready for international rugby.


Not everyone will make it to the WC, but those 51/52 players will compete for those spots for the WC. They will deliver their best. The future of the Boks is in very safe hands. The only thing that bothers me is Rassie's health. If he can overcome it, rugby looks dark for the rest of the rugby world. He is already the greatest coach in WR history. By the time he retires, he will be the biggest legend any sport has ever seen

2 Go to comments
J
JW 45 minutes ago
'They smelt it': Scott Robertson says Italy sensed All Blacks' vulnerability

No where to be seen OB!


The crosses for me for the year where (from memory);


This was a really hard one to nail down as the first sign of a problem, now that I've asked myself to think about it. I'd say it all started with his decision to not back form and fit players after all the injuries, and/or him picking players for the future, rather ones that could play right now.


First he doesn't replace Perofeta straight away (goes on for months in the team) after injury against England, second he falls back to Beauden Barrett to cover at fullback against Fiji, then he drops Narawa the obvious choice to have started, then he brings in Jordan too soon. That Barret selection (and to a lesser extent Bell's) set the tone for the year.


Then he didn't get the side up for Argentina. They were blown away and didn't look like they expected a fight and were well beaten despite the scoreline in my opinion. Worst performance of the year in the forth game and..


Basically the same problems were persistent, or even exaggerated, after that with the players he did select not given much of an opportunity, with this year having the most number of unused subs I can remember since the amateur days.


What I think I started to realise early on was that he didn't back himself and his team. I think he prepared the players well, don't get me wrong, but I'll credit him with making a conscious choice in tempering his ambition and instead choosing cohesion and to respect (the idea of it being important in himself and his players) experience first and foremost (after two tight games and that 4th game loss). I think he chose wrong in deciding not to be, and back, himself. Hard criticism.


And it played out by preferring Beauden to Dmac on the EOYT (though that may have been a planned move).


I hope I'm right, because going through all the little things of the season and coming up with these bullets, I've got to wonder when I say his last fault is one we have seen at the Crusaders, playing his best players into the ground. What I'm really scared of now is that not wanting a bit of freshness in this last game could be linked with all these other crosses that I want to put down to simple confidence issues. But are they really a sign that he just lacks vision?


Now, that's not to say I haven't seen a lot of positives as well, I just think that for the ABs to go where they want to go he has to fix these crosses. Just have difficult that will be is the question.

23 Go to comments
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