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£30m loss by Premiership clubs means door won’t be closed on fresh investment

Premiership Rugby chief executive Ian Ritchie has clarified the league remains open to fresh investment despite the board rejecting a £275m takeover by CVC.

The Luxembourg-based equity giant pursued a 51 per cent majority ownership stake in English rugby’s top-flight leading to Premiership Rugby holding a meeting with the owners of all 12 clubs and London Irish on Tuesday.

In the hours that have followed the presentation of CVC’s bid, Premiership Rugby have since revealed they value the brand at £800m, some £250m more than the CVC’s estimate, and turned down the offer.

Yet with the collective loss of £30m registered by Premiership clubs in the last financial year, former RFU chief executive Ritchie maintained an opportunity to grow finances would be seriously considered.

“We’re interested to explore areas of investment to grow the game and the league,” Ritchie said. “But the majority control is not the preferred option.”

“If we can find somebody who brings a good partnership and brings finance or a strategic advantage, we would look at that like any business,” added Ritchie.

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