Saracens has been acquired by a consortium of private investors
Saracens has announced that a consortium of investors has agreed terms to acquire a majority controlling stake and that the club’s shareholders will invest significant new funds by means of a capital raise.
The consortium comprises Dominic Silvester, Chief Executive Office of Enstar Group, a global insurance group; Neil Golding, the club’s chairman and a partner at Freshfields; Paul O’Shea, a director at Enstar; Francois Pienaar, a World Cup winning Captain and former Saracens player; Nick Leslau, Chairman and Chief Executive of Prestbury Investment Holdings; and Marco V. Masotti, a partner at Paul Weiss and an owner of South Africa’s Sharks rugby team.
The capital raise results in a total investment of GBP 32 million of new funds into the club. Aside from maintaining the club’s position at the top of the men’s game, the new funds will be used for a variety of other purposes, including completing the redevelopment of the West Stand; further investment in women’s sport; and the establishment of a high performance training centre.
The consortium will form a new non-executive board to enhance the existing board. It will continue to be chaired by Neil Golding with Lucy Wray remaining as chief executive.
Rothschild & Co advised on the sale of this transaction. For further detail please contact Gavin Orde.
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