Leicester Tigers has today announced plans for the sale of the club.
The club said the move follows the investment in Premiership Rugby Ltd by CVC, which will pump cash into the top clubs.
The investment by CVC generated interest in the Tigers from new investors, prompting the Board to run a formal sale process in the best interests of the club, its players, supporters and shareholders.
The announcement of the sale will run alongside a full strategic review as the Tigers long-term plans to reclaim its status as a dominant force in English and European rugby.
Leicester Tigers is one of the most successful rugby clubs, winning more titles than any other English team. The club’s games are the most-watched and best-attended in English rugby and the club has a 90-per-cent season ticket renewal rate.
This makes the Tigers an attractive opportunity for an investor that shares the Club’s vision, with the ability to grow commercial revenues and accelerate development plans to the benefit of players, staff and fans.
Peter Tom CBE, Leicester Tigers Executive Chairman, 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.”