American investors dip into English rugby as Exeter Chiefs bought by U.S. owners of Bournemouth
Summary
The English rugby club Exeter Chiefs was bought by an American investment company called Black Knight Rugby, part of Cannae Holdings, which also owns soccer and hockey teams. This is one of the first major U.S. investments in English professional rugby. Exeter Chiefs has had success in European and English rugby championships in recent years.Key Facts
- Exeter Chiefs, a top English rugby club, was fully acquired by Black Knight Rugby, a U.S. company under Cannae Holdings.
- Cannae Holdings is led by American businessman Bill Foley and owns several sports teams including Bournemouth in English soccer and the NHL’s Vegas Golden Knights.
- Exeter Chiefs were European rugby champions in 2020 and English champions in 2017 and 2020.
- Bournemouth finished sixth in the Premier League last season and will play in European soccer competition for the first time.
- Exeter club members voted to approve the sale of the rugby club earlier this year.
- Another English rugby team, Cornish Pirates, recently made a deal with a U.S. investment firm, Stonewood Capital Management.
- American owners already control many big English soccer clubs like Manchester United, Chelsea, Arsenal, and Liverpool.
- English rugby plans to change its promotion system to encourage more financial stability and long-term investments.
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