Cornish Pirates boosted by ‘milestone’ seven-figure deal with US private equity firm

Cornish Pirates, a Championship rugby union club based in Penzance, have become the first English rugby union club to complete a significant investment deal with a US private equity firm. Pittsburgh-based Stonewood Capital has acquired a substantial minority stake in the club for an initial seven-figure sum. Club officials have described the long-term arrangement as a 'landmark' deal and a 'major milestone in the club's evolution'.