Eddie Jordan’s Bold Move: Reviving London Irish Rugby Club
Eddie Jordan, a legendary figure in Formula 1, has made a significant pivot into the world of rugby with his acquisition of London Irish, a club with deep roots in his native Ireland. Jordan, along with a consortium, has bought the team out of administration, aiming to revitalize a club that had fallen into financial distress despite recent successes. London Irish, founded in 1898 by Irish expatriates in London, has a rich history and a passionate fan base. The club’s professional side had been a mainstay in the top tier of English rugby since the sport’s professionalization in 1995, with only brief interruptions due to relegation in the 2010s.
A Club in Crisis
Despite achieving its highest Premiership Rugby finishing position in 14 years—fifth—London Irish collapsed under a staggering £30 million in debt in 2023. The club’s previous owner, Mick Crossan, who is the executive chairman of the Powerday recycling empire, placed the team into administration when a proposed purchase by US-based investors fell through. The tax authorities, HMRC, were among the creditors, leaving administration as the only viable option when payment deadlines were missed. The club’s financial struggles were compounded by the complex ownership of its administration center and training ground, Hazelwood, in Sunbury. This former municipal golf course, renovated after the club sold its previous home for housing development in 2011, is owned by London Irish Holdings Ltd, separate from the professional club operated by London Irish Scottish Richmond Ltd. Ensuring that potential buyers were genuinely interested in the club’s future rather than just the land value of Hazelwood was a significant challenge for Crossan and the administrators.
A Contested Bid
The acquisition process was fraught with complications, particularly with the involvement of German entrepreneur Daniel Loitz. Loitz, through his company Hokulani Ltd, had been pursuing a bid for London Irish and Hazelwood for around 18 months. He had even been operating in parallel with efforts to acquire the troubled Reading Football Club, which shared some synergies since London Irish had played at Reading’s stadium from 2000 to 2020. Initially, Hokulani Ltd had "preferred bidder" status after providing proof of funds. However, the process broke down in late 2024 when Loitz pulled out, citing "frequent and unexplained changes" and a lack of transparency. In a statement, Loitz expressed his frustration and concern for the club’s future: "It is painful to witness the potential erosion of a club with such a rich history and passionate supporter base. Should the administrators and other stakeholders choose a path that jeopardizes the future of rugby at this historic site, that decision will rest with them."
Jordan’s Vision for the Future
Eddie Jordan’s bid through Strangford Ellis Ltd, a Special Purpose Vehicle managed by Jordan Associates Ltd, ultimately prevailed. Strangford Ellis, which specializes in minority strategic investments in sports entities with significant cultural and historical value, has a clear vision for London Irish. In a statement, the new owners declared their primary goal: "to return London Irish Rugby Club to the pinnacle of international professional club rugby, aiming for a swift return to top-flight competition." While it is speculated that Strangford Ellis may not target a return to the English Premiership, instead looking to the United Rugby Championship, an equivalent competition involving teams from Ireland, Scotland, Wales, and South Africa, the focus remains on ensuring the club’s long-term sustainability and success.
The Role of Hazelwood
Hazelwood, the club’s training ground and administration center, stands at the heart of the acquisition debate. The administrators, the ReSolve Group, accepted Jordan’s bid despite it being lower than another offer, likely because it prioritized the club’s future over the land’s value. Hazelwood, where the club’s amateur sides still play, is a crucial part of London Irish’s identity and community engagement. Ensuring that Hazelwood remains a thriving hub for rugby and its supporters is a key aspect of Jordan’s vision. The complex ownership structure of Hazelwood, separate from the professional club, adds layers of difficulty to any acquisition, but Jordan’s consortium has committed to preserving and enhancing this historical site.
A New Era for London Irish
The acquisition of London Irish by Eddie Jordan and his consortium marks the beginning of a new era for the club. With Jordan’s experience in managing high-stakes sports organizations and a clear strategic vision, the future of London Irish looks promising. The club’s fans, many of whom have remained loyal despite the financial turmoil, have reason to be optimistic. Jordan’s commitment to returning London Irish to the top of international professional rugby, whether through the English Premiership or the United Rugby Championship, is a sign of the club’s resilience and the potential for a bright future. As the new owners work to stabilize the club’s finances and rebuild its competitive edge, the legacy of London Irish and its passionate community will continue to thrive.
