Exeter Chiefs chairman says new American owners will bring ‘razzmatazz’ to rugby union

Exeter Chiefs chairman Tony Rowe believes that the club’s impending takeover by an American consortium could transform the Gallagher Premiership.

The billionaire owners of English Premier League club Bournemouth have agreed a deal for the club, subject to the membership’s approval at an extraordinary general meeting on May 7.

If the deal is ratified, Exeter Chiefs will become the latest Premiership team alongside Newcastle and Bath to secure major new investment.

Rowe desperate to secure investment for the Chiefs

Black Knight Football Club board member Ryan Caswell was a guest of Rowe at Saturday's fixture against Northampton. Rowe is eager for the deal to be approved.

"I've effectively run a business for the last thirty-odd years for a shareholder who's got no money," Rowe told the Guardian.

"What I'm looking forward to is an investor who's got some money. That'll be a massive difference for me. I think it will put us in a really good place to take advantage of the future.

"Whether you like it or not professional sport is all about money. We need money to survive."

The 77-year-old has devoted a significant portion of his life to the Chiefs, helping them establish themselves in the upper echelons of rugby union.

However, he believes that new investment is essential to the club’s future, particularly as the Premiership could be set to embark on a new era.

Expansion vital to the Premiership’s future

External investors are reportedly interested in acquiring stakes in other clubs as the Premiership considers moves to broaden its horizons.

Rowe believes that expanding the ten-team line-up should be a priority to ensure that clubs can remain sustainable from a financial perspective.

There has been talk off adding two new teams to the top-flight, but Rowe has urged the league’s bosses to implement more radical changes.

“We should go to 14 teams,” Rowe added. “I still believe we should approach the Welsh. I think it would pump life into Welsh rugby and we need the games financially.

“There’s talk about bringing two new English clubs into an expanded league in 2029/30 and personally I’d like to see two Welsh clubs as well.

“There’s a lot of politics in Welsh rugby but what if Swansea and Cardiff joined an expanded Premiership? It happens in cricket, so why not in rugby?

“From a logistical point of view I don’t think any of the ten Premiership clubs would find it a struggle to drive to Wales for a weekend game.”

Chiefs boss hopes new owners will shake things up

Rowe is desperate for the club’s membership to recognise the need for change and has urged them to welcome the American consortium with open arms.

He insists that Exeter will not abandon their Devonian roots, but acknowledges that the sport needs more ‘razzmatazz’ if it is to appeal to younger fans.

Rowe admits that a £200 million deal signed in late 2018 which granted the private equity firm CVC Capital Partners more than one quarter of its commercial rights was a major misstep.

“We should never have sold the shares to CVC,” Rowe said. “They’re muttering that they’re going to do something now but are they? They haven’t done much for the last six years.

“They’re sitting pretty, aren’t they? They get 27 percent of all our commercial income. Happy days. They’ve had most of their money back already.

“We shouldn’t have done that and I don’t think we’ve been aggressive enough in the marketplace to get the sponsorship we need. We’ve got no razzmatazz about our sport.”