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• Deal with CVC Capital Partners gives 13 clubs £18m each
• Clubs urged to spend windfall on grounds not players’ wages
• Clubs urged to spend windfall on grounds not players’ wages
Premiership Rugby has completed a deal thought to be worth around £230m with the private equity firm CVC Capital Partners and has moved to ease concerns the windfall will be splurged on player wages.
The 12 Premiership clubs, as well as the Championship leaders London Irish, will each receive around £18m from the deal, having agreed to sell CVC a 27% stake.
Written by Gerard Meagher
This news first appeared on https://www.theguardian.com/sport/2018/dec/19/premiership-230m-deal-spending-splurge under the title “Premiership eases fears of spending splurge after £230m deal goes through”. Bolchha Nepal is not responsible or affiliated towards the opinion expressed in this news article.
