Cardiff Rugby: Helford Capital Limited complete takeover of club
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The completion of the takeover ends the Thomas family's formal relationship with Cardiff Rugby that went back five decades
Cardiff Rugby's takeover by Helford Capital Limited has been completed after the investment group acquired an 84.55% shareholding in the club.
The takeover also secures the minor stake of the Thomas family and other significant shareholders.
Investment group Helford Capital Limited is led by British businessmen Phil Kempe and Neal Griffith.
The takeover was approved by a "99.99% majority" at Cardiff's general meeting on Tuesday night.
A statement on the Cardiff Rugby website, external said stabilising the company is their immediate priority with "the short-term plan on putting solid foundations in place to deliver sustainable success."
The statement adds: "A large part of the club's strategy remains focussed on developing rugby talent from within and investment will therefore be made in facilities, the player pathway and academy system.
"We will now embark on an inclusive process to build a long-term strategy to ensure Cardiff is market leader in all areas of the business.
"With collective effort, we are confident we can deliver the Blue and Blacks back to being a competitive force in Europe".
Cardiff had announced in September that they were going to be taken over by new investors after a heads of term agreement had been reached. It followed the death of former chairman and benefactor Peter Thomas in March 2023.
The investment group secured approval from the Welsh Rugby Union (WRU) and from Cardiff Athletic Club, who will retain a minority shareholding in the club. Wales and British and Irish Lions legend Sir Gareth Edwards will become Cardiff's honorary president.
Cardiff Rugby chair Alun Jones said the takeover "represents a huge moment in the history of Cardiff Rugby and gives us a bright, secure and exciting future".
He added: "Following the sad passing of Peter Thomas, it was essential that we found new investment to safeguard the club and drive us forward.
"We remain indebted to Peter, the Thomas family and the other shareholders who have moved on, but we now have new owners who can help us fulfil Peter's vision and ambitions for the club with renewed passion.
"Phil and Neal have a genuine appetite to restore Cardiff as a European force and have already begun stabilising the foundations.
"With Helford Capital at the helm, we want to deliver exceptional rugby experiences whether you are a player, a member of staff, a supporter or sponsor.
"Helford have the resource and ambition to deliver that and we will now begin an inclusive process with all key stakeholders to build a new long-term strategy."
Approval for the takeover also came from the Welsh Rugby Union (WRU) and Arms Park landowners Cardiff Athletic Club - with the latter retaining a minority shareholding in their tenants Cardiff Rugby.
In a statement Cardiff Rugby said they "look forward to working closely with all stakeholders including the new leadership of the WRU to deliver a stable and successful future for the Blue and Blacks and whole professional game in Wales".
New WRU chief executive Abi Tierney congratulated all involved in the negotiations that reached "a hugely successful conclusion".
"We welcome Helford Capital wholeheartedly to Welsh rugby with a sense of excitement and optimism about what the future holds," added Tierney.
Chairman of the WRU Professional Rugby Board Malcolm Wall said: "Firstly it is important to recognise and thank the Thomas family for their long-standing support of Cardiff and Welsh professional rugby as the club enters a new era under new ownership.
"The investment has been subject to a thorough process, and having met Neal and Phil, I am optimistic and excited about the future for Cardiff.
"Cardiff supporters should also be very excited about the future and I look forward to working with their new owners to help implement their vision."
Thomas' "immeasurable contribution" to Cardiff as a player, patron, benefactor, long-standing chairman and life president has been acknowledged in the naming of the Arms Park's South Stand as the Peter Thomas Stand and a new portrait of him hangs in the trophy room.
Who are Cardiff's new owners?
Kempe, Griffith and their business partners have said they have a long-term aim to fulfil the vision and ambition of Thomas.
Kempe is a Welshman with an association stretching more than a decade with the club and is aware of the Welsh rugby landscape and the "unique" structure of Cardiff Rugby.
Cardiff say he has a range of successful business interests across multiple industries in the UK, Canada and the Middle East.
Griffith, who also has Welsh roots, is a former investment banker with numerous global business interests as an investor and director.
The duo already have significant business relationships in the United Arab Emirates, which they plan to leverage for the benefit of Cardiff Rugby.
Helford Capital Limited have pledged to "address all key stakeholders in the coming days".