Former Premiership club London Irish have been taken out of administration by a group headed by Formula 1 great Eddie Jordan.
Strangford Ellis Ltd, which is managed by Jordan Associates, have acquired the key assets, which includes the intellectual property, brand and rights of London Irish.
“We are incredibly excited about this opportunity to steer London Irish towards new heights,” Jordan Associates’ senior partner and Eddie Jordan’s son, Kyle Jordan, said.
“Our investors bring not just financial backing but a profound passion for rugby and a commitment to the community and in particular want to reach out to the global Irish diaspora to build the exile brand.”
‘Exciting chapter’ in London Irish’s history
Jordan’s colleague, Daniel McKeown, added: “This acquisition is a testament to the enduring legacy of London Irish. With this new partnership, we are poised to write the next exciting chapter in our club’s history.”
They have stated their ambition to return to professional rugby as soon as possible but it is unlikely that it will be in the English pyramid.
According to the Times, the Exiles could well seek to join the United Rugby Championship, which involves teams from Ireland, Italy, Scotland, South Africa and Wales.
Currently, 16 sides take part in the URC but, for it to expand, it would need to add two more. However, Wasps, another Premiership club that went bust, are also reportedly looking to join the URC.
London Irish initially filed for administration in June 2023 and were duly ousted from the Premiership, but there is now hope that they can return to the top level sooner rather than later.
Lee Manning, who was joint administrator of London Irish, said: “We have worked hard throughout this administration to preserve the value of this historic and much-loved club.
“Despite a number of false dawns in respect of interested parties expressing a keen interest in acquiring London Irish, we are delighted to have found a buyer with plans to revitalise the club. We look forward to seeing London Irish flourish again under the new ownership and we wish them all the best.”
Opposing ‘heavyweight’ factions launch shock move in SA Rugby’s private equity deal saga – report
Eddie Jordan and the Springboks
Eddie Jordan’s deal with London Irish comes after he sought to get involved with SA Rugby over Ackerley Sports Group’s offer for a stake in the Springboks’ commercial rights.
The former Formula 1 team owner had asked for a commission with the ASG deal, but that now appears to be off the table.
ASG could still get involved with the Boks, however, following the latest twist in the long-running saga.
At the weekend it was reported that heavyweight South African businessmen had joined forces with investors from the failed ASG bid, but that the deal would not include commission to any third party, suggesting that Jordan Associates had been frozen out.
It follows reports that people were unhappy over Jordan’s involvement, with one union boss in South Africa describing it as a “messy story.”
Src: Planetrugby.com - https://www.planetrugby.com/news/ex-formula-1-boss-buys-former-premiership-club-and-reportedly-seeks-urc-entry-after-springboks-deal-goes-awry
