Scottish Rugby welcomes CVC partnership into Six Nations
Six Nations Rugby, the official organising body of the Six Nations Championships and Autumn Internationals, is pleased to announce that it has agreed a long-term strategic partnership with CVC Fund VII, subject to customary regulatory approvals.
Scottish Rugby Statement
Today’s announcement marks an important step in the evolution of the Six Nations as a tournament and one that Scottish Rugby was proud to play a role in.
Bringing in a significant external partner is the result of many years of hard work in developing the tournament and recognition of its value and future. It provides a great opportunity to take the tournament forward and build on its success to date.
The arrival of CVC is a timely and strong expression of confidence in rugby and one which will directly benefit the wider game in Scotland in years to come.
The initial amount for Scotland will be around £7.4m (before costs) at completion, out of a total allocation for Scotland of up to £44.5m (before costs) if Six Nations meets various future financial performance conditions.
The proceeds generated from this partnership are spread over a period of five years. Scotland will also benefit from an increased commercial focus on the competition as a result of the partnership with CVC.
Scottish Rugby’s Board and Council will take their time to determine how best to utilise this future income, having both backed the proposal to bring CVC on board.
We look forward to working with CVC and our fellow Unions to continue to ensure the Six Nations remains the iconic and valued tournament it is today.
Six Nations Announcement
Six Nations Rugby, the official organising body of the Six Nations Championships and Autumn Internationals*, is pleased to announce that it has agreed a long-term strategic partnership with CVC Fund VII, subject to customary regulatory approvals.
- Partnership to further develop the Six Nations Championships & Autumn International series for the benefit of players, fans and wider rugby community over the long-term
- Combination of the significant capabilities of the six unions, with the proven commercial expertise of CVC, developed over 20 years of investing in sports
- Under the terms CVC Fund VII will invest up to £365 million for a 1/7thshare in Six Nations Rugby, working alongside the rugby unions of England, France, Ireland, Italy, Scotland & Wales, which will together retain a 6/7thshare
The partnership with Six Nations Rugby comes at an exciting time following the newly centralised ownership and operational activities for both the Men’s, Women’s & Under-20’s Six Nations Championships, alongside the Autumn International series.
The objective of the partnership is to invest to grow and develop the game; to further enhance the sporting spectacle of all the tournaments, the teams and the brands; and to build the data, technology, and broader commercial capabilities to support these ambitious plans. These steps will ensure continued development of these prestigious tournaments for the benefit of existing fans, and to attract a new more diverse and global fan base, which will support the wider rugby community, including the players, clubs, and unions, to achieve their full potential over the long-term.
CVC will bring to the partnership its significant experience in sports, as well as its global network, working alongside the unions and the Six Nations Rugby management team, to deliver on ambitious growth plans for the Six Nations Championships and Autumn International series. Under the terms of the agreement the six unions will retain sole responsibility for all sporting matters as well as majority control of commercial decisions. The CVC Fund VII investment into Six Nations Rugby will be paid to the six unions over a period of five years, reflecting the long-term nature of the partnership. This capital investment, combined with the expected growth of the tournaments, will help the unions to support the development of rugby at all levels in their respective territories over the years ahead.
Ben Morel, CEO of Six Nations Rugby commented, “This is a hugely positive development and I want to express my thanks to all parties involved. In particular, our six unions and federations, for the strong sense of unity andcollaboration they have shown throughout this process to create a unified Six Nations Rugby and agree the partnership with CVC.
“The Six Nations Championship is steeped in rugby tradition, stretching back to 1883, and together with the Women’s, Under-20’s and Autumn International series, is synonymous with all the excitement, passion and competitiveness that rugby has to offer. This external investment is an important validation of what Six Nations Rugby has achieved to date and is a key next step as we invest to grow the game on the world stage.
“When we started this journey, our aim was to ensure we found the right strategic partner, who can add real value and is committed to a long-term relationship. CVC recognises the exciting potential in the Six Nations Championships and Autumn International series, and they are aligned with our vision for the future. CVC hasa proven track record of partnering to support growth strategies in sport and is uniquely positioned to help promote collaboration across the sport of rugby for the benefit of fans, players, clubs and unions and all other rugby stakeholders”.
*Six Nations Championships include the Men’s, Women’s and Under-20’s Six Nations Championships.