Pro14 Discussing Commercial Rights With Investors

Private equity firms have been talking to Pro14's board about investing in the tournament "as part of their strategy to exploit untapped broadcasting income in sport," according to Paul Rees of the London GUARDIAN. Premiership Rugby last week rejected a takeover bid by equity firm CVC, believing its offer "undervalued the league." Talks "had been going on for a year," but the Pro14, the shareholders of which are all unions, "was first approached 12 months before." The league suspended the talks last year as it negotiated a TV agreement with Premier Sports, but when CVC's interest in the Premiership became public, it "rekindled the interest of some of the unions." Wales, Scotland and South Africa are "open to the idea of outside investment." Ireland still has "to be convinced." A Pro14 source said, "What the companies are looking for is not control of the tournament, but of its commercial rights. They believe that rugby is only touching the surface when it comes to realizing its broadcasting potential" (GUARDIAN, 9/16).