London Irish: Former F1 Eddie Jordan boss leads the consortium to buy club rugby | Rugby news news

A joint venture led by former owner of Formula 1 Eddie Jordan bought London Irish from the administration.

London Irish went on June 2023 with more than £ 30 million unpaid bills and has been looking for investments since then.

Jordan had a team in F1 from 1991 to 2005 and was a former shareholder of the Celtic Football Club.

The new owners, Strangford Ellis Ltd, is an investment vehicle managed by the Jordan Associates, who “specialize in strategic minority investment in sports entities with significant cultural and historical value”.

They have acquired the intellectual property, trademark and rights of London Ireland, but not the Hazelwood training center. London Irish can look at the United Rugby Championship, the multinational championship that includes teams from Ireland, Wales, Scotland, Italy and South Africa.

“The primary objective of the new ownership is to return London Irish Rugby Club to the culmination of the International Rugby Vocational Association, aiming for a quick return to top flight competition,” read a statement issued by Strangford Ellis.

“The Jordan Associates team will now turn its attention to negotiating a complete and sustainable performance for London Irish in competitive rugby, hand-in-hand based on Irish London supporters.”

Jordan Associates’ senior partner Kyle Jordan, Eddie’s younger son, added: “We are incredibly excited about this opportunity to direct London Irish to the new heights.

“Our investors not only bring financial support, but a deep passion for rugby and a commitment to the community and in particular want to approach the global Irish diaspora to build the brand.”

What happened to the German offer?

Sky Sports news He said last year that German investor Daniel Loitz was ready to rescue the club after proof of funds in the administrator’s determination and was the preferred candidate.

However, Loitz’s proposed acquisition collapsed and was removed from any possible move on Tuesday, explaining the reasons for social media with a “heavy heart”.

“This decision has not been made slightly, given our steadfast commitment to maintaining the legacy of London Ireland and its vital role in the rugby community since we first deal with this process in June 2023,” read the statement. .

Hokulani Limited, the company due to the rear London Irish, noted the development of “very embarrassment” of two additional candidates last year, when negotiations between Hokulani and the managers were at an advanced stage, with managers adopting a “signs of the signs first. The approach is getting that, like the preferred bidder, Hokulani Limited found “both amazing and frustrating”.

“The exclusivity phase of the negotiations proved to be equally provocative,” the statement continued. “The parameters of the agreement are subject to frequent and unexplained changes, creating an environment of uncertainty and volatility. These inconsistencies were increasingly difficult for Hokulani to proceed with confidence, despite our constant commitment to acquire.

“It is frustrating to look at the possible consequences of this process for the rugby community, especially in Hazelwood. If managers and other interested parties choose a path that jeopardizes the future of rugby in this historical space, this decision will rest together their.

“The vision of Hokulani Limited has always been clear: Maintaining and strengthening the inheritance of the Irish London, ensuring that Hazelwood remains a flourishing hub for the sport and its supporters. A deep respect for the club’s legacy.”

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