PREM Rugby’s boss says that Sir James Dyson acquiring a 50% ownership stake in Bath Rugby shows how attractive the league is to investors.
Sir James Dyson acquiring a 50% ownership stake in Bath Rugby is great news for the club, according to PREM Rugby’s boss | Photo © Richard Briggs
The Blue, Black & White announced on Wednesday 18th March that inventor, entrepreneur and philanthropist Sir James, 78, had entered into a 50:50 partnership with Bruce Craig, who bought the club in 2010.
Simon Massie-Taylor, the PREM’s chief executive, said: “This is great news for Bath Rugby and their loyal and dedicated fans.
“This announcement is testament to the stewardship of Bruce Craig and his leadership team at the club and confirms just how attractive PREM Rugby now is to investors.
“Everyone associated with PREM Rugby is excited to see Bath continue to grow as they now accelerate their exciting plans for their new stadium.”
In a statement on 18th March, the club said: “Bath Rugby today announced that Sir James Dyson has acquired a 50% ownership stake in the group comprising Bath Rugby, Arena 1865, the club’s stadium development company, and the Farleigh [House] training facilities [at Farleigh Hungerford].
“Sir James Dyson will commit substantial new capital to the group to reduce existing debt and support the development of the club’s new stadium.
“The transaction establishes a long-term 50:50 partnership between Sir James Dyson and Bruce Craig, the latter of whom who will continue to run Bath Rugby and lead the club’s next phase of development on and off the field.
“Since acquiring the club, Craig has guided Bath Rugby through the pandemic, its financial aftermath and the wider volatility of the professional game while rebuilding the club into one of rugby’s elite sides.
“The recent historic treble, ending a 29-year wait for a league title, marked the culmination of that work.”
Sir James said: “This is the club I’ve supported for most of my life. My children and my grandchildren do so too.
“I stood on the terraces and have watched the high moments as well as the difficult years.
“Bruce deserves enormous respect for rebuilding the club to be the force that it is today and I’m not here to change that.
“I’m here to support, just as I have for the past 45 years, but now with greater commitment and responsibility.
“My family and I are proud to stand alongside Bruce as equal partners to further strengthen the foundations of Bath Rugby, realise the new stadium and help ensure its future.
“Bath Rugby matters deeply to this city and its wonderful supporters who are the most dedicated in the land.”
Craig, 63, said: “This has never been a short-term project. From the beginning the aim has been to build something resilient, competitive and worthy of the club’s history.
“James understands Bath Rugby first and foremost as a supporter and a friend.
“His family has stood behind the club for decades and it always felt inevitable that our paths would align in this way.
“I’ll continue to run Bath Rugby and together we’ll strengthen its foundations, realise the new stadium and build the club for generations to come.”
