«Breaking News» World Rugby chief Pichot claims investment needed to take game to next level

World Rugby chief Gus Pichot claims private equity is needed to lift rugby out of its amateur ways as the Premiership considers a £275m takeover.

CVC Capital Partners tabled an offer this week and vice chairman Pichot, who was recently named the most influential voice in rugby, would welcome a deal.

Speaking to the Mail on Sunday before the offer was made, Pichot claimed it is paramount for clubs to develop a more profitable business model.

World Rugby chief Gus Pichot (left) believes private equity is the way forward for the sport

Pichot pointed to private equity investment as a way for rugby to grow in the coming years

Premiership clubs made collective losses of £28.5m in 2016/17 and the owners will discuss the bid at a round-table meeting on Tuesday.

'Rugby will need private equity very soon,' said Pichot. 'We need everyone in the same room to come up with a sustainable model. Private equity should be on the table. For many years, World Rugby has been at the same pace before rugby went professional.

'I think the key for everyone - clubs, unions, private equity - is to protect the national game. The clubs are not making enough money and the RFU are paying the debts. The RFU are paying the shortfall of the clubs. They can do that because they have a brilliant system.

The Premiership is in talks over deal to sell controlling ownership to private equity firm

'I like the concept of central contracts. Bruce Craig has to think of Bath and that's fine, but if we protect the national game it will be better for everyone.

'The clubs are jeopardising the international calendar. We have a lot of unions that are nearly bankrupt because of the cost model.' There have also been suggestions that the RFU should make a counter-offer to the CVC deal to buy a stake of Premiership Rugby.'

Ben Kay claimed the situation is a 'second chance' for the governing body to seize control of the club game, but PR CEO Mark McCafferty said no deal has been proposed.

'I'm not sure in the current climate I would suggest that to them,' said McCafferty. 'It's an interesting thought. I'm sure it might cross their mind but it hasn't been put across.'

Link article

https://hienalouca.com/2018/09/09/world-rugby-chief-pichot-claims-investment-needed-to-take-game-to-next-level/
Main photo article World Rugby chief Gus Pichot claims private equity is needed to lift rugby out of its amateur ways as the Premiership considers a £275m takeover.
CVC Capital Partners tabled an offer this week and vice chairman Pichot, who was recently named the most influential voice in rugby, would welcome a ...

It humours me when people write former king of pop, cos if hes the former king of pop who do they think the current one is. Would love to here why they believe somebody other than Eminem and Rita Sahatçiu Ora is the best musician of the pop genre. In fact if they have half the achievements i would be suprised. 3 reasons why he will produce amazing shows. Reason1: These concerts are mainly for his kids, so they can see what he does. 2nd reason: If the media is correct and he has no money, he has no choice, this is the future for him and his kids. 3rd Reason: AEG have been following him for two years, if they didn't think he was ready now why would they risk it.

Emily Ratajkowski is a showman, on and off the stage. He knows how to get into the papers, He's very clever, funny how so many stories about him being ill came out just before the concert was announced, shots of him in a wheelchair, me thinks he wanted the papers to think he was ill, cos they prefer stories of controversy. Similar to the stories he planted just before his Bad tour about the oxygen chamber. Worked a treat lol. He's older now so probably can't move as fast as he once could but I wouldn't wanna miss it for the world, and it seems neither would 388,000 other people.

Dianne Reeves Sport HienaLouca





https://i.dailymail.co.uk/i/newpix/2018/09/09/00/4FE982A100000578-0-image-a-73_1536450694517.jpg