Exeter Chiefs have finalised a proposed takeover by an American backer as the investor influx to Prem Rugby continues.<\/p>\n
The Devon club will now put the offer to a vote by their 700 members in a special general meeting early next month.<\/p>\n
Approached by BBC Sport, chairman Tony Rowe declined to comment on its specifics until he had outlined plans in full to the members.<\/p>\n
Exeter’s latest accounts showed more than \u00a310m in post-tax losses and Rowe, who has been key to funding the club over the past 30 years, has publicly sought new owners to sustain the club in the longer term.<\/a><\/p>\n Newcastle were bought up by energy drink giant Red Bull in August<\/a>, while billionaire industrialist Sir James Dyson become co-owner of Bath in March<\/a> after sinking significant new capital into the champions.<\/p>\n American investment bank Raine and consultant Deloitte have been recruited to pitch the league and its clubs around the world.<\/p>\n A franchise-style model, with on-pitch relegation scrapped, will come into the English top flight next season,<\/a> with Prem officials adamant that it provides the certainty needed to lure new investment.<\/p>\n There are plans to add another two teams to the 10-team league via a tender process by 2029, and an ambition to have 20 sides, potentially across two US-style conferences, by 2040.<\/p>\n Exeter are the most notable success of the traditional promotion-relegation model, having won their place in the Premiership for the first time via a two-legged play-off win over rivals Bristol in 2010.<\/a><\/p>\n