Premiership Rugby ‘on track’ to seal £230m investment in English league

Premiership Rugby chairman Ian Ritchie says a prospective nine-figure deal with a private equity firm which will change the face of the English domestic game “remains on track”.

Ritchie had been expected to announce the completion of the £230 million deal – widely reported to be with CVC Capital Partners – following yesterday’s fourth meeting in recent months.

But instead the top-flight clubs will have to wait a little longer for the financial boost which will earn them around £18m each in exchange for CVC becoming the PRL’S partners.

Ritchie said: “We had a good PRL board meeting and there remains a unanimity about our approach and our desire to enter into [this deal]. We remain on track with our objectives. These discussions are inevitably complex but we have had a good meeting today and we remain with that shared objective.”

PRL chief executive Mark Mccafferty indicated that the deal was so close it might not even require another formal meeting before the biggest investment in the history of the game can be announced.

Officials hope it will transform the domestic competition, leading to a much greater strength in depth and more opportunities for the smaller clubs to challenge for silverware.

Under the PRL’S existing rules, the current salary cap level remains at £7m irrespective of the prospective investment levels, meaning a bigger initial benefit to those clubs that currently spend less.

Other clubs are expected to use the windfall to focus on revamping their current facilities, including training pitches and even hotels. ● Welsh club Dragons have begun the search for a new coach following the dismissal of Bernard Jackman.

Former Ireland hooker Jackman arrived at Rodney Parade in 2017 but has overseen only three wins from ten outings in the Pro14 this season and Dragons have won only one of their three European Challenge Cup games.

Forwards coach Ceri Jones will take control on an interim basis.