American investors are increasingly targeting English rugby clubs following a shift to a U.S.-style franchise model that eliminates relegation. Notable investments include Black Knight Sports' takeover of Exeter Chiefs and Stonewood Capital's deal with Cornish Pirates.
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The English rugby league is transitioning to a U.S.-style franchise model, eliminating automatic promotion and relegation in favor of a criteria-based expansion system.
Black Knight Sports and Stonewood Capital Management are among the American investment groups entering English rugby, with Black Knight set to take over Exeter Chiefs.
After years of financial struggles exacerbated by the COVID-19 pandemic, significant investments are flowing into English rugby, with several clubs previously facing financial difficulties.
U.S. investment is expected to enhance the global competitiveness of English rugby, potentially leading to increased financial sustainability and a more lucrative league structure.
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Black Knight Sports and Entertainment, which is part of American investment company Cannae Holdings, took full control of Bournemouth in 2022 and the team is currently sixth in the Premier League with a chance of qualifying for next season's Champions League. The Black Knight consortium, fronted by American businessman Bill Foley, owns the Vegas Golden Knights in the NHL and has other soccer clubs in its portfolio, in Lorient (France), Moreirense FC (Portugal) and Auckland FC (New Zealand). Exeter's members voted by a majority to permit the sale of the club, which was European champion in 2020 and English champion in 2017 and '20, and are expecting an offer to follow from Black Knight after financial checks. The Cornish Pirates said they had positioned themselves “at the forefront of rugby’s globalization” by welcoming U.S. investment, at a time when the country is preparing to host the Rugby World Cup in 2031. Kenn Moritz, one of the investors in Stonewood Capital Management, said the group saw a "compelling opportunity in Cornish Pirates," adding: "Rugby is entering an exciting global phase, and we believe this investment places us at the heart of that journey.” Pittsburgh is among the U.S. cities bidding to host matches at the Rugby World Cup in 2031. \\\_ AP Sports Writer Ken Maguire contributed to this story. \\\_ AP rugby: