European private equity company CVC Capital Partners is close to buying stakes in the Six Nations and PRO14 competitions, as part of wider plans to ‘reshape’ rugby’s global competition structure.

That’s according to a report in the Financial Times.

CVC is moving closer to deals first reported last year to pay £300m ($389m/€358m) for a 14% stake in the Six Nations and £120m for a 27% stake in the PRO14 club tournament.

The firm is reported to also be in talks about tie-ups with world governing body World Rugby and national governing bodies New Zealand Rugby and South Africa Rugby. It is also exploring plans to bundle media rights for rugby competitions around the world into a single sales package, launch an OTT service, explore streaming rights deals with digital players such as Amazon, and launch a ‘Club World Cup’ tournament.

Brett Gosper, Chief Executive of World Rugby, told the FT: “There’s an understanding that CVC are an investor in the sport and a supporter of important member unions of ours. Therefore, it’s best that we work together with them where possible rather than be in a situation that we’re not in dialogue.”

CVC already has one major ownership position in European rugby, a 27% stake in Premiership Rugby, the body that oversees the top rugby union division in England, acquired in December 2018.

Sources told the Financial Times that CVC’s talks with SA Rugby were advanced and included discussions about adding another South African side to the PRO14. They dismissed reports recently that South Africa would join the Six Nations.