Leicester Tigers: Premiership club put up for sale for about £60m

By Dan RoanBBC sports editor

Last updated on 25 June 2019.From the section Rugby Union102

Leicester Tigers have not won the league since 2013

Premiership rugby club Leicester Tigers has put itself up for sale and is seeking a price of about £60m.

The move follows private equity firm CVC's investment in the sport in December, which the club says has led to several approaches from new investors.

CVC's acquisition of a 27% stake in Premiership Rugby resulted in each club receiving £13m.

In Leicester's case that meant it now has no net debt.

'Changing landscape' prompts Leicester sale

Each club retains a 7.7% stake, and with CVC spearheading new marketing initiatives for the Premiership, the clubs anticipate additional revenues flowing to them.

"CVC's investment in Premiership rugby has created a unique opportunity - catapulting the sport into the public consciousness like never before and broadening its appeal to potential investors," said Leicester executive chairman Peter Tom.

"It is our duty as a board to explore the club's strategic options and assess the best possible ownership structure to benefit from the changes ahead on and off the pitch."

Leicester is the most successful club of the professional era, winning the Premiership 10 times and the European Cup twice.

The club's games attract the highest TV audiences and it is also the most-attended club, with a 90% season ticket renewal rate.

However, it has not won the league since 2013 and flirted with relegation last season, finishing second from bottom.

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102 comments

Comment posted by User0302385138, at 10:10 25 Jun 2019
This is not surprising. Sadly they've got CVC'c poison-pill lurking in the accounts that will severely restrict any purchasers freedom to do anything that doesn't guarantee the private-equity geniuses a payback within three years!

In other news...the BBC run daily "rugby" items about Israel Folau but never, ever include a comments section. I wonder why?
Comment posted by bigpeter, at 10:48 25 Jun 2019
I always thought Tigers was owned by it's members...therefore the members have to agree to the sale and they share the profits.

If I was a member of tigers, and therefore a 'part owner' I would want to know exactly who the new investors were and their long-term plans.

Otherwise, the club could be 'asset stripped'.

Tigers don't need to sell the club... they need to replace the board!
Comment posted by BiggyBear, at 10:22 25 Jun 2019
Massive salary bill, underperforming team, no Champions Cup rugby. What's not to like? And this is coming from a Tigers fan.
Comment posted by TheLastKingOfEngland, at 10:37 25 Jun 2019
@1 I mean the obvious reason why they don't put anything up about Folau is that the moderator would have to remove about 90% of the comments on here.

As for the sale of Leicester, I can understand why they're selling. A little bit of a giant taking a stumble, but it is well and truly one that can rise again with the right set up behind it.
Comment posted by Seven Bells, at 11:11 25 Jun 2019
How is this good news for anyone except City suits cashing in? After decades of ostracising Rugby League for paying players, Union has sold the game for personal profit of a few. A sign of the times but the beginning of the end for those of us who think of it as sport and not commerce.
Comment posted by Munster, at 13:12 25 Jun 2019
32. Posted by Joe

It must be nice supporting a team that's never lost. Had games stolen from them by the Referee or the Linesman but never actually lost.
Comment posted by Dirkster, at 10:19 25 Jun 2019
The Man United of rugby, in a similar state on and off the field as Man United.

Namely a bit of a mess at the moment

That said they are in the black financially, got a hotel and multi-story car park both being build separately next to the stadium, a short walk from the city centre and got the biggest fan base in the UK.

A massive rugby club and someone will really fancy this opportunity.
Comment posted by The Uncomfortable Truth, at 12:29 25 Jun 2019
Once you invite Venture Capitalists into your bed it is only going to end one way. These guys have no interest in the game and are purely there to make money. Once they have done so they will move on to the next project/opportunity.
Long term does not exist in a Venture Capitalists vocabulary.
Comment posted by Linalmeemow, at 13:31 25 Jun 2019
Tigers need to be very careful who they sell themselves to. Rugby fans with long memories might remember what happened to Orrell in the 1990s when they sold up to self-interested crooks...
Comment posted by Wdbeast, at 11:56 25 Jun 2019
Tigers are currently majority owned by Channel Island tax exiles who show no interest in the day to day running of the club, that is why we are where we are.
Tigers needs a 21st century management structure and new ownership is the only way forward.

We just need the right owners!
Comment posted by charlieboy, at 14:29 25 Jun 2019
I love rugby and have done since the 70s. I fear it is going down the slippery slope that football has. (i.e. its all about the money and not the game now).
Comment posted by Nigel, at 11:00 25 Jun 2019
As a Tigers season ticket holder I do worry with parallels to mighty football clubs. Anyone fancy Mike Ashley buying them or other similar premiership football fates, Leeds United..etc, etc. A Man City type investment would be exciting but what if you got a Chelsea type secenario where the owner is the dictator. I would also want to keep same fan base where we can take a pint into the stands......
Comment posted by User0302385138, at 10:43 25 Jun 2019
8 LKOE

It was meant to be rhetorical ;-)

If that's the case then maybe they should stop reporting it quite so breathlessly in the sports pages. I prefer to read about rugby rather than the Beeb's latest front in the culture-war!
Comment posted by Nick Selby, at 17:47 25 Jun 2019
27 Spot on. Many supporters own shares but the major shareholders of which there are very few, are cashing in their chips as this ship has been sinking for several years, mainly due to the incompetence of these same large shareholders!! The club became too corporate, disregarded the traditional fans and changed its DNA from a club built on the success of the academy, to buying expensive imports.
Comment posted by tischy, at 16:58 25 Jun 2019
CVC with their appalling track record of asset stripping F1, somehow managed to buy into our English Rugby Premiership. One wonders how, until we found out the Premiership boss was leaving to join CVC... I guess this is the first consequence. Watch this space and pray.
Comment posted by Seven Bells, at 11:06 25 Jun 2019
RIP sport , Hello Corporate Business.

The end of an era as the money men take over purely to increase profit.
Comment posted by TheLastKingOfEngland, at 15:40 25 Jun 2019
Can't help but feel this is a symptom of Saracens/Bath rich owners race. Similarly to association football it will be a race to grab the richest owner who can then run it as a private entertainment. Not sure this is a great process.
Comment posted by Observer, at 13:29 25 Jun 2019
To fill in a few assumptions here - I was a member when the club WAS owned by the supporters. My membership was traded to be that of shareholder, not that I had a choice. That was some years ago.
It's been obvious for a while that this is a business not a club. Much of the soul disappeared over the years. It's a long time since it's been a team of local lads.
Most of that is gone.
Comment posted by Blott, at 17:12 25 Jun 2019
Tigers star signings (& top earners) over the last decade have been backs, what’s missing is a real pack, got to win up front before the pretty boys out wide can strut their stuff

The old Tigers packs were the backbone of the clubs glory days, I’d swap the big earners like Tuilagi, Toomua, Ford for some real nasty forwards who’d get the club on the front foot again

Then worry about the backs
Comment posted by AuroratheBlack, at 11:27 25 Jun 2019
As a shareholder I've heard nothing from the Board and am a little surprised as the club is the shareholders to sell, not the board.