REPORTS: Massive investment deal for Six Nations
NEWS: World Rugby vice-chairman Bernard Laporte has revealed that CVC will acquire a 14.5 percent stake in the Six Nations.
According to Rugbypass, the former head coach of France revealed the news publicly at the AGM of the FFR that was held over the weekend. The estimated £400,000 million-plus buy-in has been delayed by the global coronavirus pandemic.
The exact breakdown of the deal is yet to be revealed, but Midi Olympique report that France are set to bag at least €75 million (£67.5m) over five years.
The deal has come at the perfect time for the cash strapped unions, who are forecast to lose millions due to pandemic lockdown.
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RugbyPass reported last year that the CVC deal could see some Six Nations matches no longer broadcast on free-to-air television, a move that would inevitably cause controversy in the sport.
It’s a double windfall for Ireland, Wales, Scotland and Italy. The Luxembourg-based group, who previously invested in Formula One before switching its attention to rugby, spent £120million acquiring a stake in the PRO14.
The total value to the Irish, Italian, Scottish and Welsh unions is in the order of £30m each (net of costs), with an initial sum expected on Friday of approximately £5m to be paid to each of the four countries. South Africa, who have Southern Kings and Cheetahs playing in the league, won’t benefit from this deal.
Sources: Rugbypass & Midi Olympique