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Up-for-sale Leicester claim 'CVC's investment in Premiership Rugby has created a unique opportunity'
By Online Editors
Leicester Tigers have announced plans for the sale of the club alongside a full strategic review as part of long-term plans to reclaim its status as a dominant force in English and European rugby.
The announcement on Tuesday morning follows CVC Capital Partners’ acquisition of a minority stake in Premiership Rugby Limited. CVC intends to develop the sport, repeating its success with Formula One and Moto GP.
CVC’s investment sparked several expressions of interest in the Tigers from new investors, prompting the board to run a formal sale process in the best interests of the club, its players, supporters and shareholders.
Despite their 11th place Gallagher Premiership finish in 2018/19, Tigers are the most successful club of the professional era, winning more titles than any other English team.
The club’s games are the most-watched and best-attended in English rugby and the club has a 90-per-cent season ticket renewal rate. The club is ideally positioned to capitalise on the new investment coming into the game.
The pay-out to Tigers from the Premiership Rugby stake sale to CVC means the club has no net debt and can look forward to greater incremental revenues as CVC’s marketing and commercial strategy gathers momentum and grows the game.
This makes the Tigers an attractive opportunity for an investor that shares the Club’s vision, with the ability to grow commercial revenues and accelerate development plans to the benefit of players, staff and fans.
Leicester chairman Peter Tom said: “CVC’s investment in Premiership Rugby has created a unique opportunity – catapulting the sport into the public consciousness like never before and broadening its appeal to potential investors.
“It is our duty as a board to explore the club’s strategic options and assess the best possible ownership structure to benefit from the changes ahead on and off the pitch.”
CEO Simon Cohen added: “The investment and changes in English Premiership rugby present a huge opportunity for the club and a new investor.
“As the most prestigious club in English rugby, this development will further support Leicester Tigers in its ambition to be the most successful club in England and Europe, to the benefit of our players, the club and our loyal supporters.”
WATCH: Episode one of The Academy, the six-part RugbyPass documentary series looking at how Leicester Tigers develop their players
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Vaai is finally having his breakout year getting comfortable and showing great form at lock, and there are form players and experience all across the backrow, why on earth would you drop him to 6. Ridiculous
Go to commentsSo far, the All Blacks have won 8 matches out of 11 this year. That is a near 73% win rate. AB fans and, I assume, the team itself are not content with that and have everything to play for with the remaining 3 tests this year.
Their historical average is something like 77% these days and, although some years will always be better than others it is not likely to drop that dramatically to 70% any time soon. There is too much historical inertia on the stats. It is like saying Ireland’s form of the last 10 years or so is likely to reverse a historical average of 48% wins soon. It just isn’t.
Moreover, when you say they are ‘doomed’ to a 70% flatline are you not just assuming that Ireland will beat them again? How did that work out for you last time?
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