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Cornish Pirates Land Seven-Figure US Investment From Stonewood Capital

The cash gives the second-tier club breathing room to plan a Premiership push.

Cornish Pirates are celebrating investment that has come from both sides of the Atlantic - but mostly the American one (Photo: Getty)
The Pirates’ stadium in Penzance would need significant renovations to be considered ready for the top flight
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Overview

  • A deal announced Thursday brought Pittsburgh investors Kenn Moritz and John Tippins onto the Cornish Pirates board through Stonewood Capital, in what the club calls the first US investment in an English professional rugby team.
  • The cash steadies a team that was three weeks from folding last year after long-time backer Dicky Evans stepped back.
  • Chief executive Sally Pettipher said the funding could speed a plan to reach the Gallagher Premiership, England’s top tier, within five years, though there is no promotion this season and a franchise bid remains a decision point.
  • Mennaye Field in Penzance holds about 4,000 and needs major upgrades, with roof damage from January storms set for summer repairs that will not meet top-flight standards.
  • The move comes as US interest builds in English rugby, with Exeter Chiefs members voting Thursday to let Bill Foley’s Cannae Holdings start a 60-day review toward a possible takeover.