Leicester Tigers has announced plans for the sale of the club, as the Gallagher Premiership side seeks to benefit from the commercial opportunities afforded by CVC Capital Partners’ investment in the top division of English rugby union.
Tigers revealed sale plans, alongside a full strategic review, as part of a long-term mission to reclaim their status as a dominant force in English and European rugby.
While Tigers are the most successful club in the professional era, they have not won the Premiership since 2012/13 and finished second bottom of the table last season.
Premiership Rugby concluded a partnership with CVC Capital Partners Fund VII in December, selling a minority share to the private equity and investment advisory firm.
Tigers said CVC’s investment sparked several expressions of interest in the club from new investors, prompting the board to run a formal sale process in the “best interests of the club, its players, supporters and shareholders”.
Reports indicate Tigers have put a price tag of £60m on the club. CVC’s acquisition of a 27% stake in Premiership Rugby resulted in each club receiving £13m.
Peter Tom CBE, Leicester Tigers Executive Chairman, said: “CVC’s investment in Premiership Rugby has created a unique opportunity – catapulting the sport into the public consciousness like never before and broadening its appeal to potential investors. It is our duty as a board to explore the club’s strategic options and assess the best possible ownership structure to benefit from the changes ahead on and off the pitch.”
Simon Cohen, Leicester Tigers Chief Executive Officer, added: “The investment and changes in English Premiership rugby present a huge opportunity for the club and a new investor. As the most prestigious club in English rugby, this development will further support Leicester Tigers in its ambition to be the most successful club in England and Europe, to the benefit of our players, the club and our loyal supporters.”