Tony Rowe, the owner of Exeter, is looking for some relief. The seven hundred members of the club must vote on a takeover proposal from the United States.
Exeter is having a good season, as they have a great chance of making it to the semi-finals of the English Premiership and are also qualified for the final round of the Challenge. However, the Devon club does not want to rest on its laurels. This is understandable because the latest figures show an operating deficit of £10 million (around €11.5 million). Tony Rowe, a loyal patron of the club for thirty years, has made it clear that he is tired of filling these financial holes. He has expressed hope that new investors will step in to secure the Chiefs’ long-term future.
The 77-year-old man believes he has given a lot to his beloved club, which in return has given him two English championship titles (2017 and 2020) and a Champions Cup (2020). It’s known that the Exeter Chiefs are attracting interest from an American buyer, but Rowe has declined to comment on the details of the proposal until it has been presented in full to the club members.
The seven hundred members will be convened at the beginning of May for an extraordinary general meeting to vote on the future of the Chiefs, the flagship club of the southwest of England which has faced difficult times in recent years. They finished in ninth place last season and had to almost completely rebuild their team.
As they reach the peak and their manager Rob Baxter extends his contract, the Chiefs have a lot to offer. In general, the Premiership is actively seeking investment from around the world, especially from the United States. It operates on the model of a closed league, with clubs protected from the risk of relegation. The consulting firm Deloitte and the bank Raine Group have been commissioned to find wealthy buyers.
It is known that Newcastle was taken over by Redbull last summer, and that billionaire James Dyson acquired 50% of Bath’s shares from Bruce Craig. English rugby, facing competition from the French Top 14, is buzzing with rumors, including a potential revival of clubs that went bankrupt: Wasps, London Irish, and Worcester. The latter has already returned to the second division. Kites Capital, which bought Birmingham FC’s football club in 2023, is also rumored to be interested in a rugby club in the West Midlands region.
CONTEXT: Tony Rowe, the owner of Exeter Chiefs rugby club, is considering a takeover bid from an American investor to address the club’s financial issues. FACT CHECK: Exeter Chiefs have won the English Premiership twice and the European Champions Cup once.
