The deal is expected to unlock significant fresh funding for Exeter Chiefs, which posted an annual loss of £10.3 million last year after finishing ninth in the Premiership table. Insiders describe the impending multimillion-pound investment as meaningful at a pivotal stage in English professional club rugby. Exeter Chiefs have been seeking fresh investment for a couple of years and were in contact with more than 80 companies and individuals before identifying their preferred new backer, with the club currently sitting fourth in the Premiership and having reached the Challenge Cup semi-finals.
This investment comes amid broader changes in the Premiership, where the existing 10-team league is to become a franchise expansion league from the 2029-30 season. Premiership Rugby is launching a tender process to secure external investment now that relegation has been removed from the top league. The Premiership sold 27% of its commercial rights to CVC Capital Partners for around £200 million over seven years ago to stabilize post-Covid finances, and other potential franchise interests include Knighthead Capital, owners of Birmingham City, interested in a West Midlands rugby operation, while a Yorkshire-based franchise is also under consideration.
Stability and continuity are emphasized under the new ownership, with Rob Baxter, the Chiefs' director of rugby, having just signed a new extended contract. Tony Rowe, the current chair, would stay on under new American ownership, assuming the deal receives approval next month.