Home / Sports / Exeter Chiefs: American Investors Eye Rugby Takeover
Exeter Chiefs: American Investors Eye Rugby Takeover
8 May
Summary
- Shareholders approved talks for Exeter Chiefs takeover by US firm.
- Black Knight previously bought Bournemouth and invests in other clubs.
- Any offer depends on a 60-day due diligence period ending in May.
Shareholders of the Prem Rugby side Exeter Chiefs have voted to approve discussions regarding a potential takeover by American investors. Cannae Holdings Inc.'s subsidiary, Black Knight Sports and Entertainment, has expressed interest in acquiring full ownership of the club. This decision was made during a meeting on Thursday, where members and shareholders granted permission for sale talks to proceed.
Exeter's chairman and chief executive, Tony Rowe, clarified that this approval represents a non-binding expression of interest, with the hope that a formal offer will follow. Black Knight Sports and Entertainment, which successfully took over Bournemouth in December 2022, also holds stakes in French football club FC Lorient and owns New Zealand's Auckland FC.
Any potential acquisition is contingent upon a 60-day due diligence process, which is not anticipated to conclude before the end of May. This news arrives shortly after the second-tier Champ club, Cornish Pirates, announced investment from Stonewood Capital Management, another American firm.
Exeter Chiefs, currently fourth in the Prem standings after 14 games, are set to face Bath on Sunday. This potential investment marks a significant development for the club and comes amid a period of increased external investment in the English rugby scene.
