London Irish: Former F1 team chief Eddie Jordan runs a consortium to buy a rugby club | News of rugby
The consortium led by former Formula 1 team owner Eddie Jordan bought London Irish outside the administration.
In June 2023, London Irish refused with more than £ 30m unpaid accounts and has since been demanding investment.
Jordan had a team in F1 from 1991 to 2005 and was a former shareholder of Celtic Football Club.
New owners, Strangford Ellis LTD, an investment vehicle operated by Jordan Associates, which is “specializing in minority strategic investments in sports entities with significant cultural and historical value.”
They gained intellectual property, Mark and the rights of London Ireland, but not the Hazelwood training center. London Irish may enter the United Rugby Championship, a multi -national league that includes teams from Ireland, Wales, Scotland, Italy and South Africa.
“The primary goal of the new ownership is to return the London Irish Rugby Club to the pinnacle of the International Professional Rugby Club, the goal for a quick return to the top competition,” read a statement issued by Strangford Ellis.
“Tim Jordan Associates will now draw attention to negotiating a complete and sustainable return to London Irish in a competitive rugby, hand in hand with the base of London Irish fans.”
Jordan Associates older partner Kyle Jordan, the youngest son of Eddie, added: “We are incredibly excited about this opportunity to direct London Irish toward New Heights.
“Our investors bring not only financial support, but also a deep passion for rugby and dedication to the community, and especially want to contact the global Irish diaspora to build the brand of exile.”
What happened to the German offer?
Sky Sports News Last year, he reported that German investor Daniel Loitz was ready to save the club after proving the funding to resolve the administrator and was a preferred bidder.
However, Loitz’s proposed download collapsed and on Tuesday he moved away from any potential move, explaining his reasons on social media with a “heavy heart”.
“This decision has not been made lightly, given our unwavering commitment to preserve the legacy of London’s Irish and its vital role in a rugby community since we first became involved in this procedure in June 2023,” read the statement.
The Hokulani Limited, a company that was supposed to return London Irish, noted that “very confusing” development of two additional bidders was late last year when negotiations between the Hocolani and the administrator were at an advanced phase, and the administrators accepted “WSTS WHITS First gets it” An approach that, as a preferred bidder, has discovered “surprisingly and frustrating” hocolate Limited.
“The negotiative exclusivity phase proved equally challenging,” the statement continued. “The parameters of the agreement were subject to frequent and inexplicable changes, creating an environment of uncertainty and instability. These inconsistencies made it difficult for Hokulani Limited to continue with confidence, despite our unwavering dedication to acquisition.
“It is unquestioned by the potential consequences of this process for a rugby community, especially in Hazelwood. If administrators and other stakeholders choose the path that threatens the future of rugby in this historic place, that decision will rest on them.
“The Hocolate Limited vision has always been clear: to preserve and improve the legacy of the London Irish, ensuring that Hazelwood remains a successful center of sports and its supporters. Our financial package is designed to deliver this vision, aided by the necessary resources and deep respect for the club heritage.”
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