Guinness PRO14 bosses have announced that the expected money-spinning partnership with CVC Capital Partners has been confirmed.
CVC Capital Partners Fund VII will acquire a 28% share of PRO14 Rugby from Celtic Rugby DAC, with the Unions retaining the 72% majority share.
The deal is believed to be worth over €120m.
The Federazione Italiana Rugby (FIR) will also become a member of Celtic Rugby DAC, and receive a share of the investment, while Martin Anayi will remain on as the PRO14's chief executive.
Anayi commented: "CVC’s show of faith has been impressive and is in keeping with their proven track record of success when it comes to sports investment, including Formula 1, Moto GP and Premiership Rugby.
"This partnership allows all of our stakeholders to plan for a sustainable period of growth, which will benefit the fans, the players and the game.
"We are very pleased to partner with CVC, who saw us as an ambitious, fast paced and innovative organisation, situated across a number of core rugby nations that can deliver an increasing impact.
"We have been clear that we believe the Guinness PRO14 is a world-class club league, that is still in its growth phase and we are confident that it will become a major standard bearer in our sport.
"We are excited that CVC clearly shares that ambition and we look forward to working with them to deliver on the league’s promise in the years ahead."
