sports

How reading the Guardian led to a million-pound move for Cornish Pirates

Article about second-tier rugby club last December piqued interest of American private equity firm

How reading the Guardian led to a million-pound move for Cornish Pirates

TL;DR

  • Stonewood Capital, led by Kenn Moritz, has invested a seven-figure sum in the Cornish Pirates rugby club.
  • The investment was prompted by an article in The Guardian about the club's search for fresh investment.
  • Moritz and his partner John H Tippins, who usually invest in industrial companies, are enthusiastic about the novelty and potential of rugby.
  • They see English rugby as a 'sleeping giant' with opportunities for growth and increased profitability.
  • The club aims to improve stadium facilities, strengthen the team, and explore the creation of a women's team and an academy.
  • The club has ambitions to be Premiership-ready within five years.
  • The Pirates have less historical debt than many top-tier clubs, presenting an opportunity for a strategic turnaround.