Premier Rugby to reject CVC deal in belief it undervalues league

Premier Rugby is all but certain to reject CVC Holdings’ bid for a controlling share in the division as key figures believe its offer significantly undervalues the league.

CVC Holdings is thought to have offered £275 million for a 50 per cent stake in Premier Rugby, a deal which would value the organisation at £550million. The proposal will be discussed at a Premiership board meeting on Tuesday but it is looking increasingly likely that it will be rejected by the clubs, with sources claiming the offer does not reflect the potential of the division.

Premier Rugby has grown by 80 per cent in the past five years and it is thought a similar level of growth is possible in the near future. The sale would only be possi- ble if all 13 shareholders – the 12 Premiership clubs plus London Irish – agree to it, but that is unlikely, with a minority of clubs holding strong reservations.

Mark Mccafferty, the Premier Rugby chief executive, said on Thursday that the league would aspire to be the first £1billion division, and while that is thought to be optimistic the clubs are expected to reject the opportunity for investment and instead focus on growing the division.

Meanwhile, Australia’s hopes of claiming a first win in the Rugby Championship suffered a blow when David Pocock was ruled out of today’s Test against South Africa because of a neck injury.

Pocock, who sustained the injury in the defeat by the All Blacks in Auckland two weeks ago, failed a late fitness test and has been replaced at No8 by Pete Samu, who will make his first Test start today.

“I am very disappointed for David and the team, he’s been in outstanding form all year and a big leader in the team,” said captain Michael Hooper.

“It’s unfortunate, but Pete is coming in and he’s been doing a great job in the cameos he’s been having off the bench. He will be itching to go.”