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London Irish To Reap Rewards Of Stadium Move, CVC Investment

It was not part of Rugby Football Union Championship side London Irish’s strategy that its move back to the capital and Premiership Rugby's £230M ($291M) investment deal with CVC Capital Partners would be announced within 36 hours of each other, according to Alex Lowe of the LONDON TIMES. The deals were unrelated -- but together they "represent a change in fortune" for a club that has been on its "uppers." London Irish CEO Brian Facer said, "It is about time the Irish had a bit of luck. This is a game changer for us." The initial CVC "cash windfall" of up to £18M ($22.7M) will "drop into" the club's account before the end of this season, while London Irish said that its move to play at the new Brentford Community Stadium from the '20-21 season will turn it into a "sustainable business." The club's most recent published accounts showed a loss of £3M ($3.8M). The commercial deal that the club signed with League Championship side Brentford is understood to be "three times more valuable" than its present arrangement at Reading’s Madejski Stadium, which has been Irish's home for 19 seasons. If London Irish can secure promotion back to the Premiership this season, Facer is "promising" that the club will spend up to the £7M ($8.8M) salary cap and recruit two marquee players (LONDON TIMES, 12/27).

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