Exeter Chiefs takeover puts squad investment at centre of new era

Exeter Chiefs have completed a takeover by Cannae Holdings’ Black Knight Rugby, and Tony Rowe says the new backing can help the club raise its ambitions. Rowe will remain chief executive as part of an executive board with Bill Foley and Ryan Caswell.

The immediate focus, according to Rowe, is the playing group rather than new capital projects. Exeter have recently operated below the Premiership salary cap, and the club’s leadership now intends to strengthen depth and experience after reaching last season’s final, where they lost 26-17 to Northampton at Twickenham.

The investment is also expected to support Exeter’s women’s side, who reached the Premiership Women’s Rugby semi-finals after finishing third. The women’s team has made two domestic finals since being formed in 2020 but is still seeking a first title.

Beyond spending, Exeter may look for shared expertise within the wider Black Knight sports network, including links to AFC Bournemouth. For supporters, the key question is whether new financial stability can be balanced with the club identity built under Rowe’s long stewardship.