IRFU open to selling shares in provinces

The IRFU is open to the prospect of private investors purchasing stakes in the professional provinces in order to bridge the widening financial gap with cash-rich English and French competitors.

Such a system is already in place in New Zealand, where all five Super Rugby franchises are owned to varying degrees by a combination of private backers, the individual provincial unions, and New Zealand Rugby (NZR).

The process began back in 2011 and was completed with the granting of a five-year licence last year to operate the Highlanders. NZR retains ownership of all the team brands and funds coaching and player contracts from TV and sponsorship revenues.