Last Updated: 07/07/20 7:36pm
A statement from the Six Nations says a planned deal to sell a stake in the rugby tournament to a private equity firm just isn’t expected imminently.
Six Nations has been doing talks with CVC Capital Partners over a deal which would begin to see the national unions within the tournament be given a significant financial investment.
Reports in France over the week-end suggested a deal was close to being agreed, which will see CVC complete the acquisition of 14.5 per cent of the championship.
But a statement released on Tuesday by Six Nations said: “Over yesteryear year, Six Nations has been associated with exclusive negotiations with CVC Capital Partners.
“These negotiations have already been very constructive and forward thinking.
“Negotiations with this nature are complex. They can take significant time and at this point, remain ongoing.
“An agreement is not to be expected imminently and it would be inaccurate to present it as a formality.”
The national unions are facing something of an economic crisis due to the aftereffects of the coronavirus pandemic but this will apparently not be described as a factor in completing the deal.
The statement added: “There is no set timeline for completion of this process, and any agreement, if it were to go ahead, would not be accelerated due to any potential challenge presented by the current external environment.”