Major League Rugby Seeks $100 Million to Fuel North American Growth

Major League Rugby, a professional North American sports league, is exploring raising capital to fuel its growth, according to people with knowledge of the matter.

(Bloomberg) — Major League Rugby, a professional North American sports league, is exploring raising capital to fuel its growth, according to people with knowledge of the matter.

The Dallas-based organization, led by Chief Executive Officer Nic Benson, is working with an adviser to raise roughly $100 million, said some of the people, all of whom requested anonymity discussing confidential information. Terms, including the amount being sought, aren’t finalized and could still change.

A Major League Rugby representative declined to comment.

The league features 12 teams, 11 from the the US and one from Canada, its website shows. The US secured hosting rights to the 2031 Rugby World Cup, and stakeholders are hoping to drive heightened attention toward the sport in coming years, one of the people said.

Some alternative asset managers have already placed their bets on the sport’s future. CVC Capital Partners acquired a stake in Six Nations Rugby, which oversees Europe’s main rugby tournament, after backing England’s top rugby league Premiership Rugby and United Rugby Championship, which involves teams from Ireland, Scotland, Wales and elsewhere. And Silver Lake last year invested in New Zealand Rugby, which oversees teams including the All Blacks.

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