Leicester Tigers has today released a statement confirming plans for the sale of the club alongside a "full strategic review as part of long-term plans to reclaim its status as a dominant force in English and European rugby.
The decision follows the recent sale of a minority stake in Premiership Rugby, England’s top league, by CVC Capital Partners, a private equity firm, leading to interest in Leicester.
CVC paid an estimated £230 million for a 27 percent stake in the league, handing about £13 million to each of the 12 clubs.
In the club statement, Tiger'sExecutive Chairman Peter Tom said:
“CVC’s investment in Premiership Rugby has created a unique opportunity – catapulting the sport into the public consciousness like never before and broadening its appeal to potential investors. It is our duty as a Board to explore the Club’s strategic options and assess the best possible ownership structure to benefit from the changes ahead on and off the pitch.”
Simon Cohen, Leicester Tigers Chief Executive Officer, said:
“The investment and changes in English Premiership rugby present a huge opportunity for the Club and a new investor. As the most prestigious club in English rugby, this development will further support Leicester Tigers in its ambition to be the most successful club in England and Europe, to the benefit of our players, the Club and our loyal supporters.”