Black Knight Rugby pledge full backing for Exeter Chiefs women after £45m takeover

Cannae Holdings’ Black Knight Rugby completed a £45m takeover of Exeter Chiefs this week, with CEO Tony Rowe confirming the new American ownership group is fully committed to sustaining and growing the club’s Premiership Women’s Rugby operation.

Rowe, who has bankrolled Exeter’s rise from the lower tiers of English rugby to two Premiership titles and a European Champions Cup, will remain in post as CEO for the next two years under the new structure. Cannae Holdings also owns AFC Bournemouth, the NHL’s Vegas Golden Knights, French club FC Lorient, and New Zealand’s Auckland FC.

“The women’s Premiership is still quite young in English rugby,” Rowe said at a press conference following the takeover. “We’re still trying to build a bigger supporter base, so we’re funding a loss. But Cannae and Black Knight Rugby are committed totally to supporting women’s rugby, which I think is great.”

Rowe acknowledged that resource constraints had previously limited investment in the women’s side, but suggested the influx of new capital would ease that pressure. “This will actually probably enable us to put a bit more money into the ladies’ side, because the reality is when the cake is only so big to cut up, it’s been a challenge,” he said.

He also hinted that further announcements were imminent. “There’s some things happening in the background at the moment that will become apparent in the next few days, but we’re really excited.”

One of those developments has already emerged. Head coach Steve Salvin has departed the club to join Sean Lynn’s Wales Women’s setup as forwards coach. Salvin spent four years as an assistant under Susie Appleby before taking charge last season, guiding Exeter back into knockout rugby after a year’s absence. He previously coached at Rotherham Titans, Yorkshire Carnegie, and Worcester Warriors.

Exeter’s women’s side reached the PWR semi-finals this season and have twice been runners-up in the competition — in 2022 and 2023 — since joining the league at its inception in 2020. A title has so far eluded them.

On the men’s side, Rowe indicated the new ownership could allow the Gallagher Premiership runners-up to spend up to the salary cap, signalling broader ambitions for the club under Black Knight Rugby’s stewardship.