Sources said the first phase of debt negotiations kicked off before the Rugby World Cup in France and have now entered phase two.
Street Talk understands US buyout firm The Carlyle Group is one of seven parties vying to give the governing body a much-needed cash injection after negotiations with private equity funds fell through.and phase two was now starting. On the table is an option to fund Rugby Australia until 2025 with $60 million in debt. The body will also look to draw on its existing $20 million debt facility and pray the British & Irish Lions Tour in 2025 brings in enough revenue.
A spokesperson from The Carlyle Group declined to comment when contacted by Street Talk. Carlyle is no stranger to sports investing, however, providing $660 million in debt financing to Swiss sports marketing company Infront Group in 2021. The firm is also seeking a media rights deal with Italy’s Serie A and has emerged as a potential bidder for Manchester United, according to reports.
The current agreement is due to expire at the end of 2025. Any future deal would incorporate the 2027 men’s and 2029 women’s rugby world cups due to be held in Australia which Nine wants but doesn’t want to pay through the nose for. Dwindling audiences for the sport are also a consideration.Nine is negotiating rights for the Melbourne Cup and Ashes, and has just coughed up a painfully large sum for Olympics and tennis deals, so it’s not surprising it is taking its time.
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