Premiership Rugby confirms CVC investment

Premiership Rugby confirmed the news a few weeks after reports emerged that CVC had entered exclusivity for the deal. Said reports mentioned that CVC was in line to pay more than £200m for a minority stake, with a final offer due to be voted on at a board meeting on 11 December.

The deal is expected to complete in Q1 2019. CVC is understood to be securing a 27% stake in the business, with Premiership Rugby stating that the proceeds from the investment would be reinvested to drive continued growth in the sport.

CVC will be investing from CVC Capital Partners VII, which closed in mid-2017 on its €15.5bn hard-cap. The fund is expected to make around 30 investments of between €100m-1bn, with a sweet spot of €300-500m, in companies with enterprise values of €500m-5bn.

CVC has a track record of investing in high-profile professional sport organisations, having been part of a consortium that sold motorsport business Formula One Group to US corporate Liberty Media for $8bn in 2016.

Company
Established in 1997, Premiership Rugby is the organising body of the England-based Gallagher Premiership Rugby league. It is responsible for organising the Premiership Rugby competition, the centralised broadcast rights and other commercial rights for the league. It also oversees all aspects of the governance, regulation, delivery and promotion of the Premiership Rugby Cup, Premiership Rugby Shield, the Premiership Rugby 7s and the Under 18s competition.

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• Topics
• Expansion
• UK / Ireland
• Consumer
• CVC Capital Partners
• Minority investing
• United Kingdom