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R360 rugby project fully funded and profitable after a year, say insiders

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The breakaway R360 global club rugby competition has already secured the funding to launch in 2026 and is targeting a profit in its second year, sources close to the ambitious project have told City PM.
The breakaway R360 global club rugby competition has already secured the funding to launch in 2026 and is targeting a profit in its second year, sources close to the ambitious project have told City PM.

The breakaway R360 global club rugby competition has already secured the funding to launch in 2026 and is targeting a profit in its second year, sources close to the ambitious project have told City PM.

Organisers of R360 intend to change the face of the sport through franchise ownership, attracting brands not traditionally associated with rugby union and a cohort of world-renowned players across 12 teams. If successful, it would be the biggest shift in club rugby in the history of professionalism.

It is understood that the project – fronted by former England player Mike Tindall and involving ex-Bath Rugby head coach Stuart Hooper, former Wasserman agent Mark Spoors and the LIV Golf and IPL-associated legal expert John Loffhagen – has secured funding and is “fully capitalised until profit”. It is hoped R360 will turn a profit after its first year.

Global R360 backing

That financial backing has come from firms and individuals across the globe – including from investors not previously involved with rugby. “There’s no sovereign wealth,” a source said. “It is either sports funds or individual investors from the States to the Middle East to Britain.”

Each of the eight men’s franchises are said to have attracted multiple bids, with offers from four continents. R360 insiders say they are close to finalising the sale of those franchises, which are priced in the tens of millions of pounds, while the four women’s teams “will be funded in-house” initially.

There could be another two men’s teams within three years, too, with expansion franchises on the table.

Broken system

Those behind R360 say it is an attempt to fix a “broken” club game in which hardly any teams make a profit. They say they have signed contracts with almost 100 top players, the vast majority of whom are current internationals and under 32. 

Players have been promised they will be paid more for playing less, while still being able to represent their countries. It is not known yet how lenient international unions will be on the project, but R360 figures suggest some are much less resistant than others.

There have been a number of attempts to change the way club rugby is commercialised across the world, with many failing.

In the latest series of iterations, alongside R360, the Champions Cup’s governing body European Professional Club Rugby announced a Club World Cup for the sport in 2028, while an international Nations Cup is set to launch next year.