Cannae Holdings CEO breaks silence on Exeter Chiefs takeover and global ambitions

Ryan Caswell, CEO of Cannae Holdings, has spoken publicly for the first time since the investment group completed their takeover of Exeter Chiefs, pledging to use lessons learned from their other sports ventures to push the Premiership club to the next level.

Caswell visited Devon last week and addressed the club’s fanbase directly via the Chiefs’ official website. His comments arrive after a bruising 2024-25 season for Exeter, who finished runners-up in the Gallagher Premiership final against Northampton Saints, lost the Premiership Rugby Cup final to Leicester Tigers, and were eliminated at the semi-final stage of the Challenge Cup by Ulster.

Cannae Holdings’ sports portfolio includes AFC Bournemouth, who qualified for European competition for the first time in their history last season, and the Vegas Golden Knights NHL franchise, who won the Stanley Cup in 2023. Caswell pointed to both achievements as evidence the group knows how to build winning organisations.

“We believe that we can leverage many of the learnings that we have experienced at Bournemouth to grow both Exeter’s brand and performance, as well as to help grow the sport,” Caswell said.

“We looked at Exeter’s history, brand, community, and infrastructure, and proven history of success. Our question was how we could use all of that and push the club to the next level.”

Caswell was careful to acknowledge the differences between rugby union and the other sports Cannae has operated in, stressing that the group intends to respect the culture around the game rather than impose a one-size-fits-all model.

“We also have views of what creates success while very much appreciating that this is a different sport with a different community and a different fan base. We want to be very respectful of that while at the same time trying to find ways where we can add value and achieve the ambition of the club.”

Looking beyond the Premiership, Caswell also flagged the United States as a market Cannae believes rugby can grow into, a notable signal given the group’s existing footprint in American sport through the Golden Knights.

“We think there is upside in the US and globally. There’s a great fan base around rugby, which is exciting to us,” he said.

Exeter, five-time Premiership champions, have not won the league title since 2020. The club’s run to last season’s final suggested they remain genuine contenders, and Caswell indicated that result should recalibrate expectations for what the newly backed club can achieve going forward.