CHAMP side Cornish Pirates have announced a landmark investment from the United States, marking the first known US backing into an English professional rugby club.<\/p>\n
A statement released by the club reads: \u201cThe investment comes from J. Kenneth (\u201cKenn\u201d) Moritz and John H. Tippins, principals of Stonewood Capital Management, Inc., a Pittsburgh-based investment firm with a strong track record of backing growth businesses and strategic projects.<\/p>\n
\u201cMoritz and Tippins bring not only investment but deep experience from one of the United States\u2019 most established sporting cities. Pittsburgh is home to a rich portfolio of professional sports franchises and is currently bidding to be a host city for the\u00a0Rugby World Cup in the USA in 2031<\/a>.<\/p>\n \u201cTheir involvement signals confidence in both the club\u2019s ambitions and the wider potential for rugby\u2019s growth in the US market.\u201d<\/p>\n The first American investment in English Rugby<\/p>\n The investment is understood to be the first direct American backing of an English professional rugby club, highlighting the sport\u2019s growing international appeal ahead of major events such as the 2031 Rugby World Cup in the United States.<\/p>\n Pirates CEO Sally Pettipher said: \u201cThis is a hugely significant moment for Cornish Pirates.<\/a> To attract investment from experienced US investors of this calibre is a powerful endorsement of our strategy, our people and our long-term vision to build real value, both financial and social.\u201d<\/p>\n