Six Nations could lose £300m deal because of bailouts

THE Six Nations’ proposed £300million investment from CVC Capital Partners could be jeopardised by the home unions seeking government bailouts to help them cope with the loss of gate receipts throughout the pandemic, Sportsmail has learned. A deal for the Luxembourg-based private equity group to buy a 14-per-cent stake of the Six Nations, which would have seen the SRU receive around £50m, was close to being agreed last February, but has not progressed during the coronavirus crisis and is now mired in uncertainty. The RFU were one of several governing bodies who submitted financial records to the Department for Culture, Media and Sport last week detailing the impact of the pandemic on their revenues after chief executive Bill Sweeney confirmed that they are seeking a government bailout as they are facing losses of £60m and a reduction in revenue of £138m. The Welsh Rugby Union have already secured a £20m loan from NatWest to help fund the four regions, but are also after assistance from central government, although the SRU are yet to make such a request. The UK Government have indicated that, given the sport is largely funded through ticket sales and hospitality, rugby is at the front of the queue for financial assistance, but it is understood that they would expect any loan to be repaid promptly if the unions received a cash injection from an investor such as CVC. It is unclear whether CVC or the Six Nations would be willing to proceed on this basis, with sources insisting that the discussions remain ongoing. CVC have invested £320m in British rugby in the past two years, paying £200m for a 27-per-cent stake in the Premiership and £120m for 28 per cent of the Pro 14. Buying into the Six Nations would give them unparalleled influence in the game at both club and international level. However, if the terms are not right they could walk away from a deal that has been under negotiation for over 18 months and could seek to increase their stakes in the Premiership and/or the Pro14 instead.

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