A French rugby club secures investment from a HK-based company

Union Bordeaux Bègles (UBB) has become the first rugby union club in France’s Top 14 to secure investment from a foreign entity after striking a deal with GaveKal, the Hong Kong-based investment fund owned by Louis-Vincent Gave.

Under the agreement, GaveKal will acquire a 10 percent stake in the French club. Although financial terms of the investment were not disclosed, reports in the French media suggest that the deal could be worth several million euros.

The deal will mark the first time that a foreign entity has invested capital into a team that plays in the Top 14, France’s top club rugby union division. Speaking about the deal, UBB president Laurent Marti said that the investment could help the club secure additional commercial partners and further media coverage in Asia.

“Louis-Vincent is passionate about rugby and this helped us complete the deal quickly,” Marti said. “It will contribute to the arrival of new economic partners and media coverage of UBB in Asia, with Hong Kong being the basis for this.”

UBB finished seventh in the Top 14 last season, securing its place in a play-off competition for the chance to qualify for the 2015-16 edition of the European Rugby Champions Cup tournament. UBB saw off English Premiership outfit Gloucester 23-22 in the play-offs to secure its place in the Champions Cup.

The French team has been placed in Pool 2 for the 2015-16 tournament alongside fellow Top 14 side Clermont as well as Welsh outfit Ospreys and English team Exeter Chiefs.