SIX NATIONS HANDED £365m LIFELINE BY INVESTORS

THE Six Nations is set for a much-needed cash boost, with the £365million sale of 14.5 per cent of its commercial rights to CVC Capital Partners due to be completed later this month.

Sportsmail has learned that all the major details of a five-year deal between the unions and the private equity firm have been agreed, and an announcement is expected before the start of this year’s tournament. The RFU will receive the biggest share of CVC’s investment, in the form of a payment of around £70m split over five years. They are closely followed by France, and then the rest of the home unions — with minnows Italy getting the smallest pay-out.

The value of the deal has remained the same throughout its two-year negotiating period, despite the impact of the pandemic, although CVC have insisted on a so-called Covid-clause enabling them to defer payments if fixtures are cancelled due to the virus. CVC are understood to have insisted that this year’s Six Nations stay in its usual position in the calendar, despite the disruption being caused to the fixture list — which was exacerbated yesterday by the suspension of the European Champions Cup and Challenge Cup.

The 2021 Championship will begin as planned with England’s Calcutta Cup clash with Scotland on February 6, an arrangement that also suits domestic broadcasters BBC and ITV.

CVC’s investment will give them considerable influence over the Six Nations’ commercial activity relating to both the Championship and the autumn internationals, particularly the negotiations over the next broadcast rights deal, which is likely to see more matches screened on subscription channels after next year.

The only remaining issue to resolve before contracts are signed is the payment structure of the initial tax bill which the deal will incur for the unions, although that is not thought to be a major sticking point.

The RFU are projecting losses of up to £145m due to the pandemic — with chief executive Bill Sweeney warning it could take up to five years for the body to recover — so the completion of the CVC deal is a timely one.