Cardiff Rugby can confirm contracts have been exchanged with Helford Capital Limited to acquire a majority shareholding in Cardiff Rugby Limited.
The investment group, spearheaded by British businessmen Phil Kempe and Neal Griffith, will secure the shareholding of the Thomas family and other significant shareholders of the club.
A General Meeting of the company will now be called to approve the transaction and set out further strategic detail to shareholders.
In a new and exciting era for Cardiff Rugby, Helford Capital are committed to driving the club back to being a competitive force in Europe, while protecting its rich history and heritage.
The investment group have already secured approval from the Welsh Rugby Union and from Cardiff Athletic Club, who will retain a minority shareholding in the club, and have invited Sir Gareth Edwards to become the club’s Honorary President, which we are delighted to announce he has accepted.
Cardiff Rugby chair Alun Jones said: “Following the passing of Peter Thomas, our long-standing president and benefactor, a number of interested parties, who could invest in the club, were identified.
“We are delighted to now confirm that contracts have been exchanged with Helford Capital Ltd, who will become the company’s new owners pending a General Meeting.
“Cardiff Rugby remain enormously grateful to Peter Thomas for his passionate and unwavering support over so many years and also to his family, who have stood beside us following his sad passing in March.
“We are also very grateful to a number of other significant shareholders, who have agreed to pass on the baton to Phil, Neal and their partners.
“This is a historic and significant moment for the club and we are all enormously excited about the future for Cardiff Rugby.
“We look forward to sharing the vision and strategy for the club to supporters in due course, and implementing it with Helford Capital at the helm.”
Phil Kempe, Neal Griffith and their business partners have a long-term aim to fulfil the vision and ambition of the late Peter Thomas, but will immediately look to stabilise the club, while building solid foundations for future success.
The strategy will remain focussed on developing local talent, with investments made in resource and facilities throughout the pathway and academy system to ensure the very best development system.
This will lead to a world class professional environment where the best Welsh talent will be supplemented with overseas quality. Cardiff RFC will also benefit as not only a vehicle to develop talent but as a competitive force in their competitions.
Phil Kempe is a proud Welshman with an association stretching more than a decade with the club and is fully aware of the Welsh rugby landscape and the unique structure of Cardiff Rugby. He has a range of successful business interests across multiple industries in the UK, Canada and the Middle East.
Meanwhile Neal Griffith, who also has Welsh roots, is a former investment banker with numerous global business interests as both an investor and director.
The duo already have significant business relationships in the United Arab Emirates, which they plan to leverage for the benefit of Cardiff Rugby.
Craig Davies, speaking on behalf of Babs Thomas and the entire Thomas family, said: “Following the sad passing of Peter, the time was right to hand the baton on to others, those who possess the same passion and vision as Peter, and have the ability to lead and invest in the club.
“Peter gave so much to Cardiff Rugby, over so many decades and it is vitally important that the club is passed to the right people. We are entrusting Peter’s legacy to Phil and Neal and having known Phil for number of years, Neal for some time, and listened to their thorough plans, we know Cardiff is in safe hands and supporters can be confident they will deliver.
“We are enormously grateful to everyone who has been involved in this process and now look forward to continuing to visit the Arms Park, maintaining an active interest and cheering on the Blue and Blacks as supporters.”