Irish rugby will not go on an overseas spending spree for galacticos when the IRFU gets its cash windfall from CVC Capital Partners, Munster CEO Ian Flanagan has warned.

The Financial Times has reported that CVC is “plotting an ambitious reshaping of global rugby” that started with the 2018 acquisition of a 27% holding in England’s Premiership Rugby.

When rugby went professional — officially, at least — in 1995, Shannon won the first of their four-in-a-row AIL titles.

A series of buyout funds including US firms Advent and Blackstone are in talks with advertising group WPP to explore bids for a majority stake in its data analytics unit Kantar.

The powerbrokers of world rugby converge on Dublin today with their agenda dominated by the biggest single offer in the history of the sport — £500m (€585m) for a 30% stake in the Six Nations.

As Britain struggles for political stability, one of the country’s retailing institutions is close to gaining a permanent new home.

Avolon Airspace CEO Domhnal Slattery is liable for more than $10m (€9m) to Friends First under a personal guarantee following a Court of Appeal finding “sharp practice” lead to a clause being “slipped” into a deed which, unknown to the lender, removed that liability.

If the proposed Grand Prix of America in New Jersey ever actually takes place, drivers will battle for position in front of the world famous Manhattan skyline which potential new Formula One owner Stephen Ross has made a career out of redrawing.

Marussia’s hopes of competing in Formula One this season appear to have been dashed after Bernie Ecclestone revealed their request to race with last year’s car had been voted down.

CRH yesterday confirmed that it is in discussions with Lafarge and Holcim regarding the potential acquisition of certain assets being disposed of by the cementmakers in advance of their proposed merger.

CRH has submitted bids for assets put up for sale by cement makers Holcim and Lafarge ahead of their planned merger.

Avolon Holdings, the Dublin-headquartered aircraft lessor backed by CVC Capital Partners, Cinven and Oak Hill Capital Partners, declined on its trading debut yesterday after raising $273 million (€218.8m) in a US initial public offering — the largest capital raising by an Irish company in the last seven years.

European pay-TV group Sky has agreed to sell a controlling stake in Sky Bet to CVC Capital Partners in a deal which values the online betting business at £800 million (€1.1bn), with Sky retaining a 20% stake.

A sports betting business formed in 2001 was today valued at £800m after broadcaster Sky sold a controlling stake in the operation.

The threat of a boycott of the United States Grand Prix is firmly on the table following a meeting of the owners of Lotus, Force India and Sauber.

Eircom has said its chief executive Herb Hribar has decided not to renew his contract and is stepping down from his position.

A German bank that once held a major stake in Formula One has rejected Bernie Ecclestone’s offer of a €25m settlement in a dispute over the sale of that stake.

A German bank that once held a major stake in Formula One has rejected Bernie Ecclestone’s offer of a €25m settlement in a dispute over the sale of that stake.

A German court dropped the bribery case against Bernie Ecclestone after the Formula One chief agreed to make a $100 million (€74.7m) payment, ending a trial that lasted more than three months.

Formula One supremo Bernie Ecclestone will discover later on Tuesday whether a settlement offer to end his bribery trial has been accepted.

Betfair is starting to reap the benefits of cost-cutting and its focus on attracting more punters in well regulated betting markets such as Britain and Ireland, the online gambling company said yesterday.

Soft drinks brands Lucozade and Ribena could be bought by Japan’s Suntory Beverage & Food within days in a deal worth more than £1bn.

Red Bull team principal Christian Horner has described Formula One as being “unimaginable” without Bernie Ecclestone.

Formula 1 supremo Bernie Ecclestone has made billions out of the sport, but now faces the greatest test of his life off the racing circuit after his indictment this week over bribery allegations, reports Kyran FitzGerald

Gambling website Betfair was today said to be mulling a £140m (€166.2m) payout to shareholders as part of its defence against a hostile takeover.

Sluggish economic data from the world’s biggest economy offset gains by buoyant banking stocks, sending the FTSE 100 Index into the red and continuing a turbulent performance by the top tier.

US investment firm JC Flowers&, which was short-listed last year in the shelved sale of Irish Life, is still interested in buying the country’s largest life insurer, an executive at the firm said.

Fresh signs of a global economic slowdown and fading hopes of imminent stimulus measures left world markets subdued today.

Molson Coors Brewing is to buy East European brewer StarBev for €2.65bn.

Smurfit Kappa this week announced a big jump in its pre-tax profits.

The government has confirmed that no buyer has been found yet for Irish Life and Permanent.

GREAT-West Lifeco, Canada’s second-largest insurer, is the leading candidate to acquire Irish Life & Permanent’s life assurance unit, according to two people familiar with the matter.

Formula One supremo Bernie Ecclestone today reiterated the sale of the sport that has led to legal cases on two different fronts was above board.

JC FLOWERS & Co is among five bidders vying to buy Irish Life & Permanent’s life assurance unit, the biggest insurer of its kind in the country.

Formula One supremo Bernie Ecclestone has spoken to state prosecutors in Germany investigating alleged illegal payments to a former German bank executive.

The London market edged forward today as takeover talk provided the main focus on an otherwise slow day for traders.

Takeover news provided the main focus on the London market today following a spate of announcements from FTSE 100 and second-tier stocks.

Sterling jumped 1% against other major currencies today after surprise growth figures fuelled hopes that the Bank of England will not need to take further emergency action to prop up the economic recovery.

IRISH-OWNED aircraft leasing company Avolon has completed its second significant fleet enhancement in less than a week.

IRISH aircraft leasing company Avolon is confident of further boosting its fleet, following its acquisition of two aeroplanes from Air Berlin for an undisclosed fee.

One of Debenhams’ largest shareholders has exited the company nearly £500m (€551m) richer, it emerged today.

Debenhams today said existing shareholders had taken up a third of its share offering in a £323m (€378m) fundraising.