Latest news with #EthanGrayson
Yahoo
15-03-2025
- Business
- Yahoo
Premiership to fund £4m loan for struggling Newcastle
Newcastle Falcons are set to receive a multi-million-pound loan from rival Premiership clubs to meet the financial criteria to stay in the league next season, with the club's future in jeopardy. Telegraph Sport understands that the loan – estimated to be between £3 million and £4 million by sources and part-funded by CVC Capital Partners, the private equity company with a stake in the English top flight – will enable the club to finalise contracts for their squad ahead of the 2025-26 campaign. Newcastle are currently bottom of the Premiership with two wins from 11 matches this season and have announced only one signing for next season, with Ethan Grayson returning to the club after playing in the United States. The news follows three other Premiership clubs – Worcester Warriors, Wasps and London Irish – going bust between 2022 and 2023, with the league dropping from 13 teams to 10 as a result. Steve Diamond, Newcastle's director of rugby, has already lived through a similarly desperate situation while in charge of Worcester. In the wake of those clubs going into administration, Premiership Rugby set up a Financial Monitoring Panel, with its role to provide independent oversight and decision-making in respect of each club's financial status. With Newcastle potentially falling foul of those FMP regulations next season, action has now been taken by the other clubs to support them. Semore Kurdi, who became Newcastle owner in 2011, put the club up for sale last year. However, it is understood that interest has been limited, which – combined with Kurdi's desire to sell – has led to the current financial situation, so the other Premiership clubs and CVC have stepped in. CVC invested in Premiership Rugby back in 2019 and owns a 27 per cent stake in the league. Telegraph Sport reported last year that Newcastle were one of four clubs identified by investors in Saudi Arabia, along with Gloucester, Leicester Tigers and Northampton Saints. The Saudi's sovereign Public Investment Fund already owns an 80 per cent stake of Newcastle United football club. Newcastle Falcons declined to comment. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
Telegraph
15-03-2025
- Business
- Telegraph
Premiership to fund £4m loan for struggling Newcastle
Newcastle Falcons are set to receive a multi-million-pound loan from rival Premiership clubs to meet the financial criteria to stay in the league next season, with the club's future in jeopardy. Telegraph Sport understands that the loan – estimated to be between £3 million and £4 million by sources and part-funded by CVC Capital Partners, the private equity company with a stake in the English top flight – will enable the club to finalise contracts for their squad ahead of the 2025-26 campaign. Newcastle are currently bottom of the Premiership with two wins from 11 matches this season and have announced only one signing for next season, with Ethan Grayson returning to the club after playing in the United States. The news follows three other Premiership clubs – Worcester Warriors, Wasps and London Irish – going bust between 2022 and 2023, with the league dropping from 13 teams to 10 as a result. Steve Diamond, Newcastle's director of rugby, has already lived through a similarly desperate situation while in charge of Worcester. In the wake of those clubs going into administration, Premiership Rugby set up a Financial Monitoring Panel, with its role to provide independent oversight and decision-making in respect of each club's financial status. With Newcastle potentially falling foul of those FMP regulations next season, action has now been taken by the other clubs to support them. Semore Kurdi, who became Newcastle owner in 2011, put the club up for sale last year. However, it is understood that interest has been limited, which – combined with Kurdi's desire to sell – has led to the current financial situation, so the other Premiership clubs and CVC have stepped in. CVC invested in Premiership Rugby back in 2019 and owns a 27 per cent stake in the league. Telegraph Sport reported last year that Newcastle were one of four clubs identified by investors in Saudi Arabia, along with Gloucester, Leicester Tigers and Northampton Saints. The Saudi's sovereign Public Investment Fund already owns an 80 per cent stake of Newcastle United football club.
Yahoo
25-02-2025
- Sport
- Yahoo
Grayson to rejoin Newcastle for next season
Ethan Grayson will rejoin Newcastle Falcons for the 2025-26 season on a one-year contract. The versatile back spent the first half of the current campaign on a short-term deal with Newcastle from Major League Rugby side San Diego Legion. Grayson, 22, played nine games for the Falcons between September and December, scoring 28 points, before returning to California for the new US season. But having impressed at Kingston Park, he will return once he has concluded his commitments with San Diego this summer. "I'm delighted to be able to bring Ethan back to Newcastle for a second spell," said Newcastle's consultant director of rugby Steve Diamond. "He came and did a great job for us during the autumn, playing a key part in some important wins, and there was always a desire from both parties to get a more permanent deal nailed down." Newcastle, SoCal and a World Cup- winning dad - the rise of Ethan Grayson Newcastle Falcons English Rugby
