"The RFU council will vote at Twickenham on proposals to ringfence the 10-team Prem with no promotion or relegation until 2030, when a staged expansion is planned, beginning with the addition of two more teams. While former top-flight sides such as London Irish, Wasps and Worcester Warriors as well as ambitious Champ clubs like Ealing Trailfinders will be given the opportunity to apply, Prem Rugby is also keen to secure new additions."
"New York-based merchant bank, The Raine Group, and Deloitte have been engaged with a brief to discuss franchise opportunities with potential new owners, as well as bringing new investment into Prem Rugby itself. Knighthead is understood to have expressed interest in acquiring a franchise as the next stage of its multisport strategy that has seen it buy a 49% share in the Birmingham Phoenix Hundred franchise, and a majority share in Netball Super League club Birmingham Panthers."
"Knighthead bought Birmingham City in 2023 before investing in cricket and netball last year, and has committed to spending between 2bn and 3bn on building a new Sports Quarter for the city, which will include a 62,000-seat stadium and 15,000-capacity indoor arena."
The RFU council will vote on Friday to ringfence Prem Rugby's 10 teams with no promotion or relegation until 2030, when staged expansion begins with two additional franchises. American investors, including Knighthead Capital Management, are exploring franchise acquisition opportunities. The Raine Group and Deloitte have been engaged to facilitate discussions with potential owners and attract investment into Prem Rugby. Knighthead, which owns Birmingham City and has invested in cricket and netball franchises, is attracted to expanding its multisport strategy and filling a professional rugby gap in the Midlands since Wasps' 2022 collapse. The company is committed to spending £2-3 billion on Birmingham's Sports Quarter, which will include multiple stadiums.
#prem-rugby-expansion #american-investment #knighthead-capital-management #rfu-ringfencing #birmingham-sports-franchise
Read at www.theguardian.com
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