When Tony Rowe heard that the buyout titan CVC Capital Partners was casting an eye over Premiership Rugby, the chairman of Exeter Chiefs could not hide his surprise. CVC, former owner of Formula One motor racing, emerged as a buyer of England’s top-tier club rugby union competition in September. “When I was told that somebody had valued Premiership Rugby at about £800m, I said, ‘I never thought there was any value in Premiership Rugby,’ ” recalled Rowe, a telecoms entrepreneur who has seen Exeter rise from the lower leagues to the top flight. “CVC is going to want to increase the value of its investment, which will increase the value of the clubs. That can only be a good thing.” The £225m swoop on a
CVC Capital Partners, which acquired a 27% stake in Ireland's Premiership Rugby last September for £225m ($289m), aims to boost the sporting competition's revenues by securing lucrative broadcasting rights deals with the likes of Amazon. CVC is also in talks for a £120m share of England's Pro 14, and has its eye on northern hemisphere rugby's biggest international tournament, the Six Nations.