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Premiership shareholders CVC now angling for a very different tournament stake - reports
By Online Editors
BBC Sport are reporting that the Six Nations are considering whether to follow a business model adopted earlier this season by the English Premiership.
It was December when Premiership Rugby moved into a new era after concluding a deal for CVC, a private equity firm, to invest more than £200m into the league in return for a 27% minority shareholding. Member clubs had previously rejected an offer for a majority 51% stake.
CVC are now believed to have tabled an offer to convince Six Nations officials to sell a 30% share in what is widely regarded as rugby’s greatest championship.
BBC report that a deal would be worth a windfall of more than £100million to each of the six unions, but the sale would mean part surrender of control of the tournament.
The revelation comes in the same week that the 2019 competition heads towards a Super Saturday finish where three of the six countries can still lift the title.
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More intriguingly, it also coincides with World Rugby’s summit meeting in Dublin on Thursday to thrash out the controversy that has developed about the proposed new World League.
It’s believed that if Six Nations decided to sell a chunk of its tournament to private equity, it would more than likely kill off the chances of the World League ever getting off the ground.
In a strategy called Project Light, the half-dozen Six Nations unions have spent the past 18 months exploring ways to better pool their commercial interests in an effort to raise more finance through the Six Nations whose credibility suffered a huge blow with a sponsorship wrangling.
Dithering by its administrators cost it a record value long-term deal two years ago and when that offer was pulled, they were left red-faced and forced to take a cut-price, one-year offer from NatWest. They have since struck a longer-term deal this season with Guinness, but that fee was still below the value of that was previously on the table two years ago.
CVC’s equity interest is apparently one of a handful of possible options and while an agreement is said not to be imminent, it leaves the Six Nations in a strong position when it comes to the World Rugby negotiating table this week.
A number of Six Nations unions have already made clear their concerns over the introduction of promotion and relegation, which would be part of the proposed Nations Championship.
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Latest Comments
I think Italy were always targetting this match and intended to win. They needed to exorcise the 2023 RWC. I think they could have done with a bit more help from other 6Ns particularly from Ireland to knock more holes in NZ and their confidence.
Mentioned before the Italy Argentina match was a virus that ripped through the Italy camp early that week. In general play Italy were competitive albeit with a high error count and crucial missed tackles.
Ive said it before the era of NZ turning up unprepared for all comers and triumphing is definitively over. If a Tier1 team target NZ and NZ do not prepare accordingly they are in with a major chance of losing. It used to occur the odd time in RWCs against France, now it can occur v any Tier1. The competition has improved. NZ can still be at the top but their talents must be deployed sufficiently into dismantling teams as with their attack then allowed to exploit.
They dismantled Ireland pretty well in Dublin which went largely unnoticed. That allowed them scoreboard advantage and attacking opportunities of which one was enough.
That Italian team beat Wales and significantly Scotland last year. They used the loss to NZ in the most positive way possible. No doubt NZ prepared but I would assume it was similar to versus Argentina: 3/4 arsed at best. These test matches are rare and this was another chance to practice dismantling a determined and prepared opponent which was lost. If Italy had scored a 7 pointer at 17-6....an Italian win was on.
Go to commentsGB = England, Scotland, Wales. UK = England, Wales, Scotland, NI
Nothing to stew son.
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