The VI Nations Tournament and the CVC investment fund have signed “a long-term strategic partnership” which will see CVC invest more than 400 million euros over five years, organizers announced Thursday.
A newcomer to the capital. The CVC fund will invest “up to 365 million pounds (425 million euros) for a 1 / 7th share in Six Nations Rugby, in collaboration with the rugby federations of England, France, Ireland, from Italy, Scotland and Wales, which together will retain a participation of 6 / 7ths, “said the press release from the organizers.
The investment by CVC, which thus acquires 14.3% of the Tournament, will be paid over a period of five years to the six federations. Under the terms of the agreement, the latter will remain solely responsible for all sporting matters and will also retain majority control over business decisions. Women’s and Under-20 tournaments, as well as the fall tests, are also affected by this agreement.
A turning point in the history of the tournament?
“This is a decisive moment in the history of rugby in Wales,” said Steve Phillips, the boss of the Welsh Federation, who can expect a check of nearly 60 million euros. “The goal of the partnership is to invest in the growth and development of the game, to further improve the sporting spectacle offered by all tournaments, teams and brands, and to build the data, technology and more advanced commercial capacities in order to support these ambitious plans, ”the statement said.
The arrival of CVC in the capital could thus allow the tournament to gain popularity beyond European borders. “This external investment is an important confirmation of what Six Nations Rugby has achieved so far and is a key next step as we invest to develop the game on the global stage,” said Tournament General Manager Benjamin Morel.
CVC is not at its first attempt
CVC is already a shareholder of Pro 14, the former Celtic League which brings together the Welsh, Irish, Italian, Scottish and South African provinces, and of the England Rugby Championship. In total, the fund has already invested more than 800 million euros in rugby. The agreement with the Six Nations could have been signed much earlier, but the negotiations between the investment fund and the federations, which began almost twenty months ago, have been slowed down by the Covid-19 pandemic. Things had finally materialized at the beginning of the year: the FFR management committee had approved, in mid-January, the draft agreement between the Six Nations and CVC, former F1 treasurer.