International law firm Bird & Bird has advised Cannae Holdings, Inc. (NYSE: CNNE) on the acquisition of Exeter Rugby Group (Exeter Chiefs) through its newly formed subsidiary, Black Knight Rugby, LLC.
The transaction represents a further step in Cannae’s strategy of transforming its portfolio to concentrate on sports and entertainment-related investments. Cannae Holdings, Inc. is a publicly listed investment company focused on building long-term value through strategic investments.
Exeter Chiefs is one of England’s leading professional rugby union clubs, competing in both the Gallagher Premiership and Premiership Women’s Rugby. Based at Sandy Park in Exeter, the club has enjoyed significant success in recent years, including Premiership Rugby and European Champions Cup titles, and is widely recognised for its strong community ties.
The Bird & Bird team was led by Matt Bonass (Partner, Corporate), together with Craig Giles (Partner, Sport), Jon Goldsworthy (Partner, Employment), Richie Lamb (Senior Associate, Corporate), Lereesa Easterbrook (Senior Associate, Sport), Jacob Bellamy (Associate, Corporate) and a multidisciplinary team across the firm’s sport, banking, real estate and tax practices.
Matt Bonass commented:
“We were delighted to support Cannae Holdings on this strategic acquisition. Exeter Chiefs is one of the most respected brands in English rugby, and the transaction represents an exciting opportunity for Cannae as it continues to expand its investment portfolio. This deal reflects the continued investment we are seeing across the sports sector and draws on Bird & Bird’s extensive experience advising investors, rights holders, clubs and brands on complex transactions throughout the sports, media and entertainment ecosystem.”
