Premiership Rugby clubs unanimously agreed to reject an offer to sell the league to a private equity firm on Tuesday night.
A £275million takeover offer was on the table for a controlling 51 per cent share from CVC – the former owners of F1.
But the club owners met in London on Tuesday and decided against the idea.
Rugby union clubs have rejected a £275million takeover bid from private equity firm CVC
Premiership Rugby chairman Ian Ritchie said they will still look for outside investment, but would prefer to sell a minority stake.
‘The good thing for us is clearly there’s a great interest in a fantastic product,’ he told the BBC.
‘We’re very interested to explore areas of investment to grow the game and the league even further.
Premiership Rugby chief Ian Ritchie has said work will be done to seek external investment
‘But it’s fair to say, the majority control is not the preferred option but we would look at a variety of investment opportunities.
‘It is a matter of valuation and price, but if we can find someone who brings finance, or a strategic advantage, then we would look at that.’