Premiership Rugby taps Raine and Deloitte as investors circle
Premiership Rugby Limited (PRL) has engaged the Raine Group and Deloitte to manage potential investment in the competition or some of its clubs.
Premiership Rugby is attracting inquiries from American investors looking to buy into English sport following the recent influx of purchasers of Premier League and EFL clubs, with interest expected to grow ahead of the Rugby World Cup taking place in the USA in 2031.
PRL are understood to have appointed New York-based bank Raine and Deloitte in advisory capacities, with a wide-ranging brief to look at all potential opportunities to grow the competition rather than simply seeking a transaction.
Raine and Deloitte have a strong recent track record of securing investment after running The Hundred auction process on behalf of the ECB earlier this year, which is set to generate £520m for English cricket through the sale of 49 per cent stakes in the eight Hundred franchises.
While negotiations between the ECB and the eight investment groups over the final terms of the participation agreement are dragging on, the contracts are expected to be signed this summer.
It comes ahead of the climax to the Premiership Rugby season on Saturday, when Bath meet Leicester Tigers in the final at Allianz Stadium.
Premiership Rugby has an open mind regarding potential investment, having sold a 27 per cent stake in the competition to private equity firm CVC Capital Partners six years ago.
The 10 Premiership clubs are equal shareholders in the rest of the competition, and any decision to sell further shares would be down to them.
Alternatively, PRL could also work with Raine to help secure additional investment for individual clubs, the majority of whom make significant losses.
The 10 clubs’ combined 2022-23 accounts showed aggregate losses of £30.5m and net debts of more than £300m, while the future of Newcastle Falcons remains uncertain following the withdrawals from the Premiership of Wasps, Worcester Warriors and London Irish two years ago.
Premiership Rugby and Raine declined to comment.
Sky Sports ditch Boxxer but not boxing
Sky Sports retain ambitions to broadcast major boxing fights despite declining to extend their contract with promotional company Boxxer, which expired earlier this month.
The four-year Boxxer deal was signed after Eddie Hearn’s Matchroom Boxing took their fights away from Sky to sign an exclusive deal with Dazn, which was already the TV home of Frank Warren’s Queensberry Promotions.
Sky’s decision to cut ties with Boxxer, which represents several rising stars including Adam Azim and Caroline Dubois, leaves it without any contractual access to fighters but it is not ready to walk away from the sport entirely.
Given Dazn’s limited UK subscriber base the streaming company is expected to continue offering Sky opportunities to sublicense its shows, as it has done recently with Tyson Fury’s two world heavyweight title fights defeats to Oleksandr Usyk on Sky’s pay-per-view channel.
Sky has also maintained good relationships with less-established promoters, including Wasserman Boxing and GBM Sports, and could buy their fights on a one-off basis.
French Open final is a winner for TNT
Carlos Alcaraz’s thrilling French Open fightback over Jannik Sinner last weekend produced the UK’s highest-ever viewing figures for a Roland Garros final for main rights holder Warner Bros Discovery.
City PM has learned that TNT Sports’ audience reach was over 1m as Alcaraz closed in on his stunning fifth-set tie-break victory over the world No1, after saving three Championship points. It beat the broadcaster’s previous highest viewing figures for Novak Djokovic’s defeat of Andy Murray in 2016.
WBD has had UK rights for the French Open for 35 years, with the tournament shown on Eurosport until its channels stopped operating in February following the launch of TNT, and last week announced a five-year extension to the contract until 2030.
The Alcaraz-Sinner audience provides evidence of the appeal of a new generation of tennis stars in a significant boost for the sport following the retirements of Roger Federer, Rafael Nadal and Murray.
An audience reach of over 1m compares favourably with TNT’s viewing figures for Champions League and Premier League matches last season.
Alcaraz came from two sets down and 5-3 behind in the fourth to retain his crown 4-6 6-7 (4-7) 6-4 7-6 (7-3) 7-6 (10-2) and take his tally of Grand Slam titles to five, aged just 23.
The epic match in Paris lasted almost five and a half hours, making it the longest French Open final in history.
TNT attracted strong viewing figures throughout the French Open, with Coco Gauff’s own comeback win over Aryna Sabalenka its fourth highest figures for a women’s final.
Sabalenka’s semi-final victory over Iga Swiatek was TNT’s best-ever audience for a women’s semi-final, with streaming numbers on Discovery+ for that game comparable with those of a Premier League match.
Super League wants answers from NRL
Super League clubs are pushing for a firm proposal from the NRL over buying a stake in the competition by the time the Ashes series takes place in this country in October.
Wigan owner Mike Danson and Warrington owner Simon Moran held talks with NRL officials when the two clubs met in Las Vegas in February and further discussions are planned during Australian’s tour this autumn, the first Ashes series since 2003.
A 33 per cent investment from the NRL in a new European rugby league competition – NRL Europe – has been mooted but without a formal offer.
The clubs are pushing for answers, particularly as the RFL Board are in the process of conducting a strategic review led by former chief executive Nigel Wood which is likely to offer a very different – and more parochial – vision for the future of the sport.