The Rugby Football League (RFL) is in advanced discussions with multiple private equity firms about selling a stake in the Super League, following the collapse of a proposed investment by the National Rugby League (NRL) in Australia. The RFL has received several offers from investment funds interested in buying into the competition, with US-based LionCap Global among the key suitors. Other talks have involved Oakwell Sports Advisory, the firm that helped broker CVC Capital Partners’ investments in rugby union’s Six Nations Championship and Premiership Rugby.
The ongoing talks come after the NRL’s interest in the Super League waned, primarily due to disagreements over the league’s proposed expansion. The RFL, which has been exploring ways to recapitalize rugby league, views a larger league as a way to increase its valuation, linking the potential stake sale to the expansion of Super League to 14 clubs next season.
While the exact stake being sold remains undisclosed, the move is part of the RFL’s strategic review to ensure the long-term financial stability and growth of the sport. Recent events have shown that rugby league presents a compelling investment opportunity, especially following Hull KR’s historic victory at the Grand Final, their first in 21 years, which added to the sport’s visibility and appeal.
The RFL’s decision to sell a stake is also influenced by financial pressures, including concerns over governance that have led to the potential loss of £16m in funding from Sport England. This issue, combined with the broader search for new investments, underscores the financial challenges facing the sport.
Historically, the RFL considered selling part of the Super League several years ago when clubs were struggling financially post-COVID-19, but the deal was eventually rejected by the board. The NRL had expressed interest at that time, with a plan to buy into a 10-team competition and potentially rebrand it as NRL Europe, a proposal that was rejected by several traditional clubs in the north of England.
The trend of private equity firms seeking to invest in sports leagues continues to grow, with notable examples including CVC’s 33% stake in Premiership Rugby. However, some leagues, such as the Women’s Super League and the England and Wales Cricket Board, have chosen to reject similar offers.
As the RFL continues its talks, the future of Super League’s commercial landscape could soon be reshaped by private equity investment, bringing both financial stability and new opportunities for growth.
