Leicester Tigers have confirmed the club is up for sale and they are open to offers amid reports of a £60million asking price. The Welford Road outfit recently completed one of the worst seasons in the club’s professional history but are still amongst Premiership rugby’s marquee outfits.
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The Tigers’ televised fixtures often draw the highest TV ratings while they are one of the best-attended clubs with a 90 per cent season ticket renewal rate. Leicester’s current owners have decided now is the right time to cash in with interest in top flight clubs having spiked following the purchase of 27 per cent of the Gallagher Premiership by private equity firm CVC.
CVC’s investment resulted in each club receiving a £13million windfall and Leicester say they have been approached by several interested parties looking to buy the club following the firm’s decision to get involved in rugby union.
“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.”
