Exeter Chiefs CEO Tony Rowe has confirmed the new investment secured by the takeover from Black Knight Rugby will go back into the playing squad, with the Devonians now set for a major recruitment drive.<\/p>\n
The takeover from the American consortium, the first trans-Atlantic investment into a PREM Rugby club, was completed yesterday (Tuesday, 30 June 2026), following approval from club members back at the start of May.<\/p>\n
It is also the latest investment into the English top flight, following Red Bull\u2019s takeover of Newcastle and Sir Jim Dyson buying 50% of the shares in Bath.<\/p>\n
\u2018The investment is in the squad\u2019<\/p>\n
While Rowe has previously outlined that the takeover was prompted to take the financial burden off himself after 25 years of keeping the club afloat, the CEO has also hinted that the increased money will likely lead to a major investment into their playing squad.<\/p>\n
\u201cFirst of all, we will clear some of our debt. Black Knight were quite happy that we could clear our debt, and we\u2019re going to put some of that money back into the squad.<\/p>\n
\u201cWe\u2019re not going to put it into any capital project; we\u2019ll put it into our squad. Hopefully, we\u2019ll be able to spend to the salary cap next season. The investment is in the squad.<\/p>\n
\u201cWe\u2019ve got a massively talented squad, if we lack anything at the moment it\u2019s experience \u2013 our trip to Twickenham (for the final) probably showed that \u2013 and strength in depth. We\u2019ve got to get those fixed, which we think we can do for next season.\u201d<\/p>\n
Exeter Chiefs takeover completed as RFU herald \u2018another positive signal for the future of professional rugby\u2019<\/a><\/p>\n The timing of this impending recruitment drive is also going to be a matter of interest to both clubs and supporters right across the PREM, but it seems it is already underway.<\/p>\n \u201cWe did pre-empt it a little bit,\u201d Rowe said. \u201cWe\u2019ve been talking to Black Knight since way before Christmas, so we\u2019ve known for a few months that, unless something was drastically wrong, today was going to happen.<\/p>\n \u201cRob (Baxter) and I have been recruiting for the past two or three months.\u201d<\/p>\n The Devonians have already added some fresh faces to their squad for next season, with Nika Abuladze, Harry Wilson, Sam Wolstenholme, Sam Harris, Dallas McLeod, Will Butt and Jake Murray all headed to Sandy Park, but have also seen as many as 20 players head for pastures new.<\/p>\n Len Ikitau is set to return to Australia, while Christ Tshiunza will head to Sale Sharks, Will Rigg and Rusi Tuima are set to follow former Chief Josh Hodge to Newcastle Red Bulls and the likes of Scott Sio, Dan John, Charlie Chapman, Martin Moloney, Will Becconsall, Iwan Jenkins, Tamati Tua and Kwenzo Blose are also departing the club.<\/p>\n \u2018We want to be the best club in the world\u2019<\/p>\n That recruitment drive doesn\u2019t come without expectation, though, and the CEO has set Exeter<\/a> some lofty goals looking down the track.<\/p>\n \u201cWe want to be in the World Club competition, and I\u2019ve got no doubts that we\u2019ll get back to being in European finals within the next three or four years. That\u2019s the target,\u201d said Rowe.<\/p>\n \u201cWe want to be the best club in the world.\u201d<\/p>\n Elsewhere, Rowe also confirmed the club could look to improve their in-house training facilities at Sandy Park.<\/p>\n \u2018Survival\u2019<\/p>\n Prior to the dealings with Black Knight, Rowe had been very open about his search for fresh investment into the club, amid post-COVID struggles.<\/p>\n Want more from Planet Rugby? Add us as a preferred source on Google to your favourites list<\/a> for world-class coverage you can trust.<\/p>\n In January, it was confirmed that Exeter had suffered a pre-tax loss of \u00a310.3 million in the 2024\/25 season, which coincided with their worst-ever top-flight campaign in which they finished ninth.<\/p>\n \u201cThe club was running out of money,\u201d Rowe explained. \u201cIt\u2019s as simple as that.<\/p>\n \u201cI don\u2019t think people really acknowledged that all the PREM<\/a> clubs lost between \u00a320-\u00a325 million during COVID and lockdown and all the rest of it. When you lose \u00a320 million, that\u2019s a very big hole to fill in a company.<\/p>\n \u201cA lot of the clubs have survived because the guy behind it has put his hand in his pocket. I couldn\u2019t put my hand in my pocket any more, that\u2019s the reality of it. It wasn\u2019t fair on my family to keep putting money into the rugby club.<\/p>\n \u201cWe had to do something. It\u2019s survival.\u201d<\/p>\n