STATEMENT: London Irish takeover finally closes in on completion
Rugby NewsThursday, 23 May 2024 at 16:00
The takeover of London Irish is nearing completion, though it might still take some time to finalize, according to Sky Sports News.
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The club, which entered administration in June 2023, has been in discussions with German investor Daniel Thomas Loitz, who leads the investment firm Hokulani Ltd.
This is not Loitz's first venture into sports. Although he faced challenges in a recent attempt to purchase the struggling League One football club Reading, formerly home to London Irish, he currently owns six women’s football clubs, including Halifax in the UK.
Sky Sports News reports that administrators ReSolve Group have selected Loitz's bid as the preferred offer.
"The three secured creditors have the final say on the takeover," Loitz stated.
"At the start of June, I will meet with fans to learn more about the heritage of the club and update them on the takeover."
In an earlier interview with CITY AM, Loitz said: “I have been told that the vision I have [for London Irish] is sustainable. I have proved all of my funding, I have everything in place, and I understand that [major creditors] are in favor of me.
“In my opinion, I made a good [offer] and created a good vision. The idea at the moment would be to rent out Hazelwood for two or three years and then make an offer to buy Hazelwood. I am happy to discuss with the London Irish amateur club about creating a pathway and a community. That is important to me.
“I could start at the bottom of the rugby pyramid, but I want to be honest and say that it would be a very long way [back] and might not be profitable even in 20 years.
“If I start in the championship and wait until the 2025-26 season, it gives us enough time to create a real pathway and build something great. That’s the most realistic goal to aim for.”
The 33-man England Squad Steve Borthwick Should Select For Summer Tour
It's been a decade since England's last visit to New Zealand, a challenging 2014 series under Stuart Lancaster resulting in a 3-0 defeat.
The memories of the 2008 tour aren't any sweeter, with England tasting defeat in both Tests against the All Blacks. However, a glimmer of triumph emerged in 2003, as they secured a thrilling 15-13 victory over New Zealand just before the Rugby World Cup.
In this highly anticipated tour, Borthwick's squad will face a formidable challenge with only two tests against the All Blacks, following a clash with Japan in Tokyo.
Here is the list of our predicted squad organised by their current clubs:
RUCK's England squad for the summer:
Harlequins
- Joe Marler
- Fin Baxter
- Chandler Cunningham-South
- Marcus Smith
Bristol Bears
- Ellis Genge
- Harry Randall
- Gabriel Ibitoye
Saracens
- Jamie George
- Theo Dan
- Maro Itoje
- Ben Earl
- Elliot Daly
Northampton Saints
- Curtis Langdon
- Alex Mitchell
- Fin Smith
- Tommy Freeman
- George Furbank
- Ollie Sleightholme
Sale Sharks
- Asher Opoku-Fordjour
- George Ford
Bath
- Will Stuart
- Sam Underhill
- Alfie Barbeary
- Ben Spencer
- Ollie Lawrence
Leicester Tigers
- Dan Cole
- George Martin
- Freddie Steward
Exeter Chiefs
- Rusi Tuima
- Henry Slade
- Ethan Roots
- Immanuel Feyi-Waboso
Newcastle Falcons
- Guy Pepper
Guy Pepper of Newcastle Falcons during the Gallagher Premiership Rugby Match between Bath Rugby and Newcastle Falcons at the Recreation Ground on 14 October 2023. Photo: Tom Sandberg/PPAUK
Gloucester
- Zach Mercer
Final whistle celebrations for Zach Mercer of Gloucester Rugby after beating Leicester Tigers during the Premiership Rugby Cup Final match between Gloucester Rugby and Leicester Tigers at Kingsholm Stadium on March 15th, 2024 in Gloucester, England. Photo by Phil Mingo/PPAUK
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