Super League clubs reject private equity proposal

[Total Rugby League]

League Express understands that the Super League clubs have turned their backs on the prospect of attracting private equity investment – at least for the...

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[Futtocks]

Phew!

[sentoffagain2]

    Made a good decision for once.

[Tommygilf]

Wouldn't have been worth it for £60 mill

[Robthegasman]

A lot of these private equity firms are only interested in one thing.Money.

They could not give a rats ass about anything else.
They should be steered well clear from.

[Man of Kent]

It was a bad deal that looked somewhat predatory by vultures. 750k fee for no deal though, ouch! 

At the end of the story it says Sky is offering closer to £30m/yr not £20m for Super League TV rights. Why is that buried down there, not a story in its own right?!

[Man of Kent]

.

[MrPosh]

3 minutes ago, Robthegasman said:

A lot of these private equity firms are only interested in one thing.Money.

They could not give a rats ass about anything else.
They should be steered well clear from.

Lots?

Point me to one that isn't - I'll think of something to sell them.

[ATLANTISMAN]

Good to see its been thrown out however I question why SL has to pay a 750K introduction fee normally this should be based on acceptance ?

P 

[Futtocks]

8 minutes ago, Man of Kent said:

At the end of the story it says Sky is offering closer to £30m/yr not £20m for Super League TV rights. Why is that buried down there, not a story in its own right?!

Because Rugby League fans hate good news and it has to be sneaked in, like getting your cat to take medication.

[GUBRATS]

13 minutes ago, Man of Kent said:

It was a bad deal that looked somewhat predatory by vultures. 750k fee for no deal though, ouch! 

At the end of the story it says Sky is offering closer to £30m/yr not £20m for Super League TV rights. Why is that buried down there, not a story in its own right?!

They're hoping the lower tier clubs won't notice

[Damien]

Absolutely fantastic news.

[Rugbyleaguesupporter]

750k obviously a blow- but glad private equity on terms suggested is off the table.

Encouraging on tv deal- I think there is a real need to bite the bullet now and make some long term decisions 

[Damien]

18 minutes ago, Robthegasman said:

A lot of these private equity firms are only interested in one thing.Money.

They could not give a rats ass about anything else.
They should be steered well clear from.

A lot? Surely its all as its the whole reason behind their existence!

[Damien]

This is interesting because it is precisely what I have been saying on here, and arguing about with those in favour of this, for months. It just made no logical sense:

But, with Super League split broadly down the middle, some clubs are known to have opposed their involvement because it would mean that Novalpina would effectively take control of Super League and would get its money back in five years out of the broadcast income generated by the competition.

[GUBRATS]

Yet to see anybody actually set out what they'd spend it on that would bring in a return

[Damien]

Its great news about the TV deal too, if true, as it is broadly in line with what the game gets now and would be far from a disaster.

[Whippet13]

£750k introduction fee! Talk about money for old rope.

That is roughly the amount they took off Leigh.

Maybe we now know the real reason why.

[Whippet13]

1 hour ago, Damien said:

This is interesting because it is precisely what I have been saying on here, and arguing with those in favour of this about, for months. It just made no logical sense:

But, with Super League split broadly down the middle, some clubs are known to have opposed their involvement because it would mean that Novalpina would effectively take control of Super League and would get its money back in five years out of the broadcast income generated by the competition.

Wanting a 20% return on investment was a staggeringly bad deal for Super League. It would have been madness to accept it yet half the clubs seem to be willing to do so, thank heavens it had to be a unanimous decision.

Possibly the increased Sky offer has meant some clubs are feeling slightly less desperate now.

[Robthegasman]

8 hours ago, MrPosh said:

Lots?

Point me to one that isn't - I'll think of something to sell them.

I was being generous to them.

[Robthegasman]

7 hours ago, Damien said:

A lot? Surely its all as its the whole reason behind their existence!

I was being generous as I was in a good mood at the time.

 

[Lowdesert]

Good news and sensible given the control of SL remains the same.  I would like to see the RFL involved more though!

So, another £10m appears.  Could this be the result of Clubs playing through 2020 covid, demonstrating their worth to Sky?  

There is also no mention of Elstone negotiating ‘another’ £10m, which was part of his remit.  Was the PE company his one strategy?  

[Jack Russell]

Feeling so relieved with this. Whatever money clubs have they will spend, they are never flush with cash. So obvious to me that taking this PE would have meant clubs still being in the same situation in 3 years time but receiving less from the sky income. Short term gain for long term pain. No thank you.

[GeordieSaint]

£30m a year is basically the same day SL gets now from the current SKY contract. You’d be snapping that up in the current climate...

[Hela Wigmen]

A deal “closer to £30m” is a bit better and we could probably stomach a loss of a million or two, you’d take that though in this climate.