In a home office in Pittsburgh, an American named Kenn Moritz with a history of investing in industrial companies is dreaming big for English rugby.
Moritz, John Tippins and their fellow principals in the Pennsylvania-based Stonewood Capital Management are paying a “seven-figure” sum for a stake in Cornish Pirates, currently placed seventh in England’s second division, the Champ.
Stonewood are more used to turning round manufacturing and distribution companies in the eastern United States, although as Moritz told The i Paper today, they have dabbled in a frozen-dessert retail chain and a software company, too.
So why leap cross the Atlantic to put money into the Pirates and their modestly-sized Mennaye Field in Penzance, which at a 4,000 capacity is well short of the 10,000 required to play in the Premiership, and knowing that clubs in the top division have been losing money, year after year?
The Pirates’ home ground does not currently meet Premiership standards (Photo: Getty)In common with the Black Knight group whose takeover bid of Exeter Chiefs was put to members on Thursday, and the former NFL star Tom Brady reportedly interested in starting a rugby franchise in Birmingham, the revamp of the club scene in England is piquing American interest.
From next season, the Prem will be an expansion set-up, with a greater geographical spread of clubs among the stated aims.
“English rugby is a sleeping giant,” Moritz said on Thursday. “If they get their ducks in a row, there’s no limit as to how this can grow, and the value of these franchises can grow.
“The entire sport in England will be much better off. But I think there’s going to be a period of flux in the Prem while they stabilise some franchises. We are patient investors, and for us as Americans it [the Champ] was a better investment opportunity.”
A try and THAT shot from three different angles A deserved spot in the @champrugby team of the week for Matt Cannon pic.twitter.com/i0pPJCxja4
— Cornish Pirates (@CornishPirates1) May 5, 2026Asked how English clubs can start turning a profit, Moritz cited advertising and sponsorship, while affording the costs of the players. “Professionally managed sports teams are things we’ve become accustomed to here in the United States. These people that have been bankrolling these [English club] franchises, they’re timing out; they don’t want to do it any longer. There is a discipline associated with it, and the management team in place at Cornish Pirates has it, and that’s what got us really excited.”
Pirates’ chief executive Sally Pettipher said there are no immediate plans for a new stadium – hopes of one in Truro in the past have foundered in fundraising and political opposition. The Mennaye could attain a 5,000 capacity, and Exeter and Harlequins have played friendlies there this season.
A more local tycoon, Richard Wastnage, who made his money in pharmaceuticals, is another member of a new Pirates owners group relieving the pressure since the long-time backer Sir Richard Evans suffered ill health and reduced his stake.
Asked how much money might be required to reach the Prem, with a P-share to be purchased and a minimum squad salary spend of £5.4m among the considerations, Pettipher said: “You can ask Bill Sweeney, because he told me it’s £50million a year. But let us be clear: we don’t know, and that’s why we are going to follow our plan, create our destiny and when there is more to know, we can plug that into our plan. What I would say is, don’t expect us to do anything traditional.”
The second tier of English rugby is far from fully professional (Photo: Getty)Moritz said it is “serendipitous” that his home city of Pittsburgh is bidding to stage matches when the US hosts the men’s Rugby World Cup in 2031, with possible crossover promotion and sharing of player pathways.
So is this a rugby version of Wrexham and its Hollywood backers Ryan Reynolds and Rob McElhenney shooting for the stars?
“I do see the parallels [with Wrexham],” said Moritz, who was “a huge Pirates fan” growing up – that’s the Pittsburgh Pirates in baseball.
“I’d love this to be a case study in the success of a franchise and the story that’s been written to this point is quite remarkable, and to build on that legacy and to make it the best it can be, I would love to see somebody make a series – a documentary or otherwise.
“We are going to our role in the stewardship very seriously. Where that goes and what people’s expectations are for success will evolve. Obviously, we want to take it to a greater level than today. Whether that ends up being champions of our league currently, or jumping into the Prem, I think people should be excited about the future for Cornish Pirates.”
Hence then, the article about why two pittsburgh money men just bought into a cornish rugby club was published today ( ) and is available on inews ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details
Finally We wish PressBee provided you with enough information of ( Why two Pittsburgh money men just bought into a Cornish rugby club )
Also on site :