June 25, 2019 / 6:24 AM / 4 months ago

Leicester Tigers appoints advisers to conduct strategic review, possible sale

LONDON (Reuters) - English rugby club Leicester Tigers has appointed advisers to undertake a strategic review, including a formal sale process.

The club’s board has appointed Zeus Capital as its financial adviser and said it has already received various expressions of interest from potential investors, the Tigers said in a statement on Tuesday.

“The investment and changes in English Premiership rugby present a huge opportunity for the Club and a new investor,” Simon Cohen, Chief Executive Officer, said.

“...this development will further support Leicester Tigers in its ambition to be the most successful club in England and Europe, to the benefit of our players, the Club and our loyal supporters.”

Premiership Rugby, the professional league in which Leicester Tigers plays, sold a minority stake to private equity firm CVC Capital Partners in December in a deal reportedly worth more than 200 million pounds.

The move is expected to spur a new phase of commercialisation of the sport, which has struggled to gain the same scale of popularity as soccer across the United Kingdom.

Reporting By Sinead Cruise, editing by Iain Withers

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