Premiership Rugby chief executive Darren Childs will leave his position in the coming weeks to become an advisor to CVC Capital Partners.
Over the last 12 months, Childs has overseen the scrapping of relegation from the Premiership for this season – and possibly until the end of the 2024-25 season – and the lowering of the salary cap to £5m, as well as extending BT Sports as broadcast partner to 2024.
Childs’ time as chief executive has lasted less than two years and had 79 words to say in his parting statement included in the brief announcement made by Premiership Rugby.
Childs said: “After a huge effort by the whole team, I am pleased that we have managed to navigate the many challenges of COVID-19 and that Premiership Rugby is able to look ahead with real optimism.
“While now is the right time for me to step back and focus on a wider range of business interests, I will remain a committed and enthusiastic supporter of club rugby as the sport completes its recovery and returns to growth in the years ahead.”
Despite holding the top job at the organisation, Childs’ public profile – pandemic notwithstanding – remains minimal with no images of Childs featured among Getty Images’ vast library of images.
Like his predecessor Mark McCafferty, Childs will leave Premiership Rugby and take on a role with CVC – the private equity firm who acquired a minority stake in PRL in 2018 for £200m.
It was announced in March that Premiership clubs would be able to apply for a share of £88m in loans made available by government to address the financial insecurities which have stemmed from the pandemic.
Exeter Chiefs chairman Tony Rowe has warned the financial toll which had exhausted club balance sheets ‘will be felt for years to come’.
Earlier this month, the reigning Premiership and European champions announced a record loss of £2.26m for the year ending June 2020, as clubs across the league are pushed to the edge by the effects of the pandemic after collectively losing £88.7m between 2017 and 2018.