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#Post#: 153856--------------------------------------------------
Cornish Pirates secure 'landmark' US investment
DIR By: Rugbycat
Date: May 7, 2026, 4:02 am
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Champ club Cornish Pirates have announced new "landmark"
investment from American firm Stonewood Capital Management Inc.
The deal is backed by J. Kenneth ('Kenn') Moritz and John H.
Tippins of the Pittsburgh-based group, with the duo both joining
the club's board of directors.
The new investment comes less than a week after businessman
Richard Wastnage also became a member of the board after
providing new financial investment.
The trio join the consortium of local businessmen who took over
the Penzance-based club in 2025.
"This is a hugely significant moment for Cornish Pirates," said
Pirates chief executive officer Sally Pettipher.
"To attract investment from experienced US investors of this
calibre is a powerful endorsement of our strategy, our people
and our long-term vision to build real value, both financial and
social."
The Champ side are seventh in the league table and go into their
final game of the season on Saturday, away at Hartpury RFC,
still in with a chance of making the play-offs.
The 2031 Rugby World Cup is due to be held in the United States
and Pittsburgh is among the cities bidding to host the event.
Moritz, who is president of Stonewood Capital Inc, said they saw
a "compelling opportunity" in Cornish Pirates.
"A club with a proud history, a passionate community and a clear
strategic plan for growth," he said.
"Rugby is entering an exciting global phase, and we believe this
investment places us at the heart of that journey."
Can Cornwall realise top-flight potential? - Analysis
Cornwall has always been one of rugby union's hotbeds, but the
county has never had a top-flight team.
The Pirates have come closest - making the Championship play-off
final in 2011 and 2012 - but they have never been able to cross
that final hurdle.
With the prospect of a franchise-based Prem in the next few
seasons, a team based in Cornwall would be an enticing prospect
for the game and early investment could put the club in prime
position for a spot in the league in future.
But there is a lot of work to do – the club's Mennaye Field home
in Penzance in nowhere near the standard needed for Prem rugby
and the club would have to massively expand both on and off the
field if they were to be able to compete at that level.
The club has had ambitious moments in the past – former England
World Cup winner Josh Lewsey talked of investing in
infrastructure when he had a short spell as chief executive back
in 2013 and the Pirates had a long-held ambition to move to the
Stadium for Cornwall in Truro before that project fell by the
wayside.
But the fact remains that without rich benefactors willing to
fund Champ teams they will make losses – Sir Dicky Evans spent
millions on the club for almost three decades before selling to
a locally-based consortium in January 2025.
Will these be the owners to finally realise the Pirates, and
ultimately Cornwall's, top-flight rugby potential? Only time
will tell.
HTML https://www.bbc.co.uk/sport/rugby-union/articles/c0e2gdx4y1go
#Post#: 153858--------------------------------------------------
Re: Cornish Pirates secure 'landmark' US investment
DIR By: deadlyfrom5yardsout
Date: May 7, 2026, 4:19 am
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Wonder how far their ambition goes?
#Post#: 153863--------------------------------------------------
Re: Cornish Pirates secure 'landmark' US investment
DIR By: Camquin
Date: May 7, 2026, 4:50 am
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They spent many fruitless years trying to build "The Stadium for
Cornwall" in order to meet Prem MOS.
#Post#: 153869--------------------------------------------------
Re: Cornish Pirates secure 'landmark' US investment
DIR By: Rocker
Date: May 7, 2026, 6:17 am
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Maybe that'll reignite the stadium plans. They're vital to any
promotion and of course have opportunities for other income.
Good luck to them. Lots of quality players from Cornwall over
the years 👍
#Post#: 153870--------------------------------------------------
Re: Cornish Pirates secure 'landmark' US investment
DIR By: Brown Bottle
Date: May 7, 2026, 6:32 am
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I'm not sure this puts Pirates in a position to finance a
stadium - it's a "7 figure sum" for a "substantial minority
stake".
#Post#: 153871--------------------------------------------------
Re: Cornish Pirates secure 'landmark' US investment
DIR By: Rugbycat
Date: May 7, 2026, 7:09 am
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The stadium for Cornwall, became a mess, there were three
stakeholders, the Pirates,Truro city FC and Truro and Penwith
college.
Cornwall Council promised £3m funding from the "levelling up"
program and the others were going to provide £2m each, and a bid
was submitted for central government funding of £3m.
The total cost of the project was going to be £14.6m which
seemed very little for a 10000 seat stadium.
The council withdrew it funding offer, Truro FC moved to a new
3600 seat stadium, and the college also pulled out.
The costing if built today is around £25m, which seems good
value since Brighton and hove albion are looking at a cost of
£60m for a 10k womens football stadium.
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