The Pro14 rugby club competition is changing its name, adding more South African teams and has accepted a new deal, on the first sign of how CVC Capital Partners financial institutions want to revamp the game.
The purchasing team paid $ 120m for a 28 percent in last year’s tournament, one of the most popular rugby tournaments in the world, changing the way it is sold to fans, sponsors and advertisers.
The tournament, an annual competition featuring teams from Ireland, Scotland, Wales, Italy and South Africa, returns to the “United Rugby Championship”, people familiar with the decision say.
They will also receive new television deals starting in the 2021/2022 season in September, including BBC in the UK, RTE in Ireland and SuperSport in South Africa. Planners will also launch a new global advertising campaign for fans.
While the goal is to make more matches available on free television to reach a wider audience, these stations have helped raise the annual revenue of the competition to $ 55m, from $ 25m last year.
Competition can still be tough to find new viewers and money, however. Rugby is dominated by interest in international competitions, such as the Six Nations in Europe, the Rugby Championship in the Southern Hemisphere and the Rugby World Cup.
According to people close to making the decision, the newly-named United Rugby Championship will play a few games over the weekend when international matches will be played and club players will represent their teams.
Along with its value in the Pro14 CVC it also invested in Premiership Rugby of England as well Six colors, Europe’s top rugby tournament.
His goals in the United Rugby Championship show how CVC wants to be a fixture among the teams that run the game to improve its profits.
The Luxembourg-based group, formerly of Formula One and Moto GP, prefers to participate less in sports competitions, seeking commercial management in a way that would allow it to incorporate TV freedom in various competitions and sell it to advertisers.
In addition to rugby, the buyout team has also supported the global governing body and has held recent discussions with companies including ATP and WTP, men’s and women’s tennis tours, Italian Serie A league, with a basketball license in the US San antonio spurs.
The United Rugby tournament ranges from 14 to 16. Two South African teams, the Southern Kings and Cheetahs, have left the tournament, but have been replaced by four of the country’s biggest teams: the Lions, Stormers, Shark and Bulls.
In time, South Africa Rugby, a national alliance, will also take part in the tournament, linking it with other European organizations.
CVC also discussed funding for South African Rugby and is set to host Club World Cup among the world’s top rugby teams. The recent power of CVC on rugby has contributed to the development of the negotiations and a new international competition could launch in 2024, according to people who were close to the negotiations.