PRL "Highly Likely" To Sell Minority Share

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18 October 2018

Following a Premiership Rugby board meeting this week, chief executive Mark McCafferty has said that a sale of a minority stake in PRL is highly likely.

PRL shareholders - the league’s 12 clubs and London Irish - are said to be considering a second bid from CVC Capital Partners as well as interest tabled by a number of other “serious global players”,

The Luxembourg-based former owners of Formula One were looking to acquire a 51 per cent stake in Premiership Rugby for UK£275 million, but, according to the Times, the company’s latest offer is said to be more creative.

While not looking to purchase a controlling stake of more than 50 per cent of English rugby’s top division, the Times report claims acceptance of CVC’s bid could see the private equity firm take control of Premiership Rugby’s commercial arm.

The newspaper also states that the CVC proposal is one of several being discussed by Premier Rugby’s shareholders, with investment bank firm Rothschild – the league’s acting advisors – setting a deadline of last Friday for the submission of bids.

He told Press Association: “I think it’s certainly highly likely. The shareholders want to do that, they want to continue the kind of growth we’ve had over the last five years and they see the opportunities for continuing to do that.

“Finding the right partner to do that with is never straightforward.

“So one of the things the board is interested in, is if we’re going to

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