Latest news with #DavidMoffett
BBC News
4 days ago
- Business
- BBC News
Scarlets announce new investment from US company
Scarlets have announced they have attracted significant new investment from a US-based company whose directors include former Welsh Rugby Union (WRU) chief executive David Moffett and ex-Wales fly-half Dan of Luxury LLC (HOL) have agreed to eventually take a 55% stake in the organisation and will immediately acquire the current financial figure has been provided about how much money has been invested but it is thought to be dedicated sports and entertainment investment division, led by Moffett, will assume non-rugby operational leadership straightaway in partnership with the current will be responsible for commercial growth and future strategic vision, reporting directly to the Scarlets board, while working towards a full equity transaction of a majority share. Investment at times of uncertainty The announcement comes as Wales' four professional sides aim to survive the threat of cutting the number of teams to three or even have this week received planning permission from Swansea council to redevelop St Helen' are currently owned by the Welsh Rugby Union (WRU) after going into administration in April, while Dragons have been the least successful side since the inception of regional rugby in 2003. Scarlets say they will continue to work constructively with the WRU on the structural review but are "driven by the ambition to grow the club and safeguard its future.""Scarlets is a rugby club that has been at the forefront of Welsh rugby and an integral part of the community of west Wales for more than 150 years," said Scarlets chief executive Simon Muderack. "We are fiercely proud of what this club stands for and will continue to protect that legacy. "This partnership is the start of a new era for our club, strengthening our position with new investment, new ideas and a shared ambition to return the Scarlets to the top of European rugby."The new deal with HOL puts the Scarlets in control of its own future as we act boldly to move forward with a partner that will add significant resources and ambition. "Crucially, it enables a future where Scarlets will continue to play in Llanelli, retain Scarlets' strong identity and represent the whole of west Wales with pride." Return of Moffett Moffett heads HOL's sports and entertainment division, so the move will see his return to Welsh 78-year-old was the WRU chief executive when the initial five regions were launched in say they are an international luxury asset agency with a growing presence in global bill themselves as a US global luxury asset agency behind landmark sales in ultra-prime real estate, sport, automotive and rare collectibles with a dedicated sports and entertainments and HOL say the new deal will bring: Immediate financial stability with House of Luxury assuming all current liabilitiesHOL strategic leadership and expertise to support commercial growth and helping shape future strategy during an unprecedented transition period for Welsh rugbyAdditional investment into fan experience, player pathways and global partnershipsLeadership in navigating legal, structural and competitive reform within Welsh rugbyA shared strategy and vision with the Scarlets board to build a long-term, high-performance culture on and off the pitch and continue the club's significant contribution to the local economy, society and culture throughout the west Wales region."This is one of the most storied rugby clubs in the world and we believe it should be competing and winning at the highest level," said Kirsti Jane, HOL chief executive."We're here to make that happen and help drive the Scarlets' future success and protect its unique identity and legacy."
Wales Online
4 days ago
- Business
- Wales Online
Scarlets announce major US investment as Dan Biggar and David Moffett on board
Scarlets announce major US investment as Dan Biggar and David Moffett on board The Scarlets have secured significant new investment General view inside Parc y Scarlets (Image: Huw Evans Picture Agency) The Scarlets have secured significant new investment after entering into a partnership with US-based House of Luxury (HOL). Under the terms of the proposal, HOL's dedicated sports and entertainment investment division intends to acquire a majority controlling stake of 55 per cent in the club and have already assumed non-rugby operational leadership in partnership with the existing Scarlets board. Former Welsh Rugby Union CEO David Moffett heads up HOL's sports and entertainment division, while Wales legend Dan Biggar is also involved in the project. Leading sports strategic Andy Golding and Leanne Batts, an innovation lead for NZ rugby and digital sports strategic, are also on board. The club's new partners will take up current financial liabilities and responsibility for commercial growth and future strategic vision reporting directly to the Scarlets board, while working towards a full equity transaction. Sign up to Inside Welsh rugby on Substack to get exclusive news stories and insight from behind the scenes in Welsh rugby. HOL's partnership comes at a pivotal moment as the Welsh Rugby Union considers the future structure of its professional teams post- 2027, with a critical need for stability and strategic leadership for the club. Article continues below They will begin a formal consultation later this month which could result in a reduction of Wales' professional teams from four to three or even two. The Scarlets say they will continue to work constructively with the WRU on the structural review. The Scarlets say the new partnership will bring immediate financial stability, strategic leadership and expertise to support commercial growth, along with additional investment into fan experience, player pathways and global partnerships. They also believe it will bring leadership in navigating legal, structural and competitive reform within Welsh rugby. 'Scarlets is a rugby club that has been at the forefront of Welsh rugby and an integral part of the community of west Wales for more than 150 years," said Scarlets executive chairman Simon Muderack. "We are all fiercely proud of what this club stands for and will continue to protect that legacy. "This partnership is the start of a new era for our club, strengthening our position with new investment, new ideas and a shared ambition to return the Scarlets to the top of European rugby. 'The new deal with HOL puts the Scarlets in control of its own future as we act boldly to move forward with a partner that will add significant resources and ambition. "Crucially, it enables a future where Scarlets will continue to play in Llanelli, retain Scarlets' strong identity and represent the whole of west Wales with pride.' Join WalesOnline Rugby's WhatsApp Channel here to get the breaking news sent straight to your phone for free The new agreement allows the Scarlets' identity to remain the same while supporter ownership principles continue with a direct relationship to fans maintained. It has also pledged to maintain the club's cultural integrity which includes championing the Welsh language, community links and the Scarlets heritage. 'This is one of the most storied rugby clubs in the world and we believe it should be competing and winning at the highest level," said HOL CEO Kirsti Jane. "We're here to make that happen and help drive the Scarlets' future success and protect its unique identity and legacy.' HOL's headquarters are in Montana, while it is a luxury asset agency with global expertise in high-value assets, including sport, real estate and automotive. In 2025, HOL was recognised as 34th on the 50 fastest-growing businesses list by WPO (Women Presidents'; Organisation) and JP Morgan Chase. Get the latest breaking Welsh rugby news stories sent straight to your inbox with our FREE daily newsletter. Sign up here. "We're not just here to preserve Scarlets' incredible rugby heritage - we're here to transform this club into a powerful engine for community prosperity," said HOL chief experience officer Simon Kozlowski. Article continues below "This partnership will create jobs, attract international investment to west Wales and deliver an amazing experience for our fans. Our vision extends far beyond rugby to create lasting value for the entire region."
BBC News
14-05-2025
- Climate
- BBC News
Saintfield heritage park marks milestone as construction begins
Work has begun on a new £1m heritage park in Saintfield at the site of an old windmill which was damaged in a storm nearly 200 years ago. The sails of the windmill were ripped off on 6 January 1839 during a hurricane, known locally as the Night of the Big project is being led by the village's Community Association with support from the National Lottery Heritage team behind the project hope it will be open to the public by the end of 2025. The three-acre park is also home to an early 19th Century flour mill and miller's land for the park was bought in 2020 by American benefactor David Moffett, whose ancestors once lived in the cottage.A section of the former Belfast and County Down Railway track also runs through a corner of the site. Diane Goodwin, the park's community engagement officer, said it would be an important facility for the whole village."It provides an important place for the heritage of Saintfield but also a green space that the people of Saintfield can enjoy nature and the biodiversity of the area, as well as the history and heritage this place has to offer," she site backs on to the County Down village's existing community and sports began work on Wednesday morning to create an entrance by removing a retaining well as focusing on the built heritage of the site, the park hopes to enhance the biodiversity of the area, with more than 100 trees already planted.
