The Ospreys announced a “multi-million pound” take over deal on Wednesday night, May 13. The Welsh rugby club has agreed to a deal with Hong- Kong-based group, Y11 Sports and Media.
Y11 is now the majority shareholder with 75.1% of the Ospreys. Ospreys chairman, Rob Davies, and other pre-existing shareholders will collectively hold a 24.9% stake in the rugby club.
Davies, in a statement released on the club’s website, stated that the deal shows the radical and ground-breaking spirit of the Ospreys.
HAVE YOU READ!!?? Police: Crowds Will Gather At Stadiums When Premier League Resume
“Since the advent of regional rugby, the Ospreys have always aimed to be its pioneers. We haven’t been afraid to do things differently and to push the envelope. Today’s announcement is us doing the same again.”
Y11 Sports & Marketing founder and CEO James Davies-Yandle added: “Rugby’s potential has been overlooked for too long as other sports have been nimbler at seizing commercial opportunities to power success on the pitch with revenues off it. But the environment is changing quickly, and rugby is on the verge of going through the same type of evolution as other sports before it.
Furthermore, the Swansea based club will hopefully see the financial benefits of their new deal come to fruition in the coming year. The Ospreys added, “A new holding company – Ospreys International Group – has been established for the purpose.”
HAVE YOU READ!!?? Dortmund’s Cramer: Positive Test Won’t Be A Catastrophe
In fact, it has been a year of change for the Ospreys. In February they announced Toby Booth as the new head coach. However, the club sits bottom of the Conference A after just two league wins this year. Due to the COVID-19 pandemic, the PRO14 season has been abandoned.
