Premiership to change owners?

London – Rugby Union’s English Premiership has been approached over a potential £275 million takeover, according to British media reports this week.

Former Formula One owners CVC Capital Partners are believed to have expressed interest in buying a controlling stake in the top tier league.

The private equity company’s proposal is one of several avenues being explored by Premiership Rugby chiefs as they search for investment into a competition which currently sees many clubs make a loss.

Worcester lost £8 million and Harlequins £6 million in the past accounting year, while Exeter were the only Premiership club to make a profit.

Selling a minority stake or borrowing money are further options available as the league looks to expand.

CVC made £8 billion from Formula One during an ownership period spanning 10 years and media reports say the group are looking to secure 51 per cent of the Premiership.

“Premiership Rugby and its clubs have grown quickly in the last five years or so with the help of major partnerships,” a Premiership Rugby spokesperson said.