Gloucester confirm takeover talks are ongoing
- Discussions are ongoing with a number of interested parties
- Club for sale for approx £25 million according to reports
- Gloucester starts their Premiership campaign away at Newcastle on Friday night
Gloucester Rugby club has confirmed they are talking to several interested parties about the prospect of selling the club.
Back in April it was announced that the owners would be interested in putting the club on the market for possible investment during the off-season.
Now with just days to the start of the new Aviva Premiership season, it appears talks are firmly underway about selling the Cherry and Whites.
In a statement, the club announced, “We have been and are currently having positive conversations with a number of interested parties that have approached the club.
“Naturally these conversations can take some time to complete, but we are dealing with them as a priority.
The club is so far yet to announce any of the interested parties, but they will be keen to complete any sort of deal as soon as possible to ensure off the field issues do not cause problems on the field.
New owners will be hoping to propel the club back to the top of the division after years of success in the past.
They will have some of the best fans in rugby behind them, with the support of the Shed, who can create possibly the best atmosphere in the English game.
With no other successful sporting team in the local area, especially after the relegation of Cheltenham Town in football, the town need a team they can get behind have some success to shout about. With the prospect of new owners, the fans have every reason to get excited.
Stephen Vaughan, the chief executive at the club said, “When they conclude, we will issue a statement announcing our intentions with regard to moving forward with new investors or continuing to operate under the current ownership model.
“What has been most pleasing is that, throughout this process, we have had zero impact on ‘business as usual’ and look forward to the start of the Aviva Premiership season, after what was an incredibly successful hosting of four Rugby World Cup games as Kingsholm.”
The Sunday Times have reported that the club could be put up for sale for around £25 million. The reputation of the club has only enhanced after successfully hosting four World Cup games, the last of which saw Japan bow out of the tournament.
Gloucester is currently controlled by 27-year-old Ryan Walkinshaw, who took over following the death of his father Tom, a former Formula 1 team owner, in 2010.
Vaughan confirmed Cavendish Corporate Finance has been asked to conduct a strategic review of the club, which will allow Gloucester to compete at the top end of Europe.
Vaughan told the Gloucestershire Citizen, “We have asked Cavendish to conduct a strategic review of the club. The owners have a number of other business interests and now might be the right time to pass the baton on.
“But both Ryan and Martin are passionate supporters of the club and if we don’t find the right investors we simply won’t sell. They have no need to sell, the business is not costing them money.
“I needed those reassurances as well and I’ve looked them in the eye – they will only sell the club to someone who can take the club forward.
Back in April, Vaughan also said, “Gloucester Rugby is a well-run club. We make profit on a regular basis, own our own ground, generate income from off-field activities and are proud to be hosting four Rugby World Cup fixtures later this year.”