Eddie Jordan-led consortium buys London Irish rugby club out of administration

Former Formula 1 team owner Eddie Jordan has acquired a rugby team with links to his native Ireland, heading a consortium to buy it out of administration.

Sunbury-based London Irish had just achieved its highest Premiership Rugby finishing position in 14 years – fifth – when it collapsed with £30m debts in 2023.

Founded in 1898 by Irish expats living in London, the club’s amateur organisation still exists and plays in regional competition.

The professional side, nicknamed “The Not-Nots” in some quarters given the paucity of players of Irish descent in the line-up, had played in English rugby’s top tier since the sport professionalised in 1995, apart from two single-season relegations in the 2010s.

Previous owner Mick Crossan, executive chairman of the Powerday recycling empire, put the club into administration when a consortium of US-based investors failed to offer the necessary money in advance of their putative purchase. Since HMRC was among the creditors, administration was the only option when deadlines for payment were not met.

One of the complicating factors in the saga has been the ownership of London Irish’s administration centre and training ground at Hazelwood in Sunbury, a former municipal golf course acquired and renovated when the club sold its previous home for housing development in 2011.

While the professional club was operated by London Irish Scottish Richmond Ltd, Hazelwood – where the amateur sides still play – is separately owned by London Irish Holdings Ltd.

Ensuring that interested parties are not simply looking to acquire a potentially lucrative piece of real estate for a knock-down price has therefore been among the key challenges facing Crossan and the administrators.

It’s understood that Hazelwood was not part of the bid from Jordan’s Strangford Ellis Ltd consortium, and that the administrators – the ReSolve Group – accepted this bid even though it was lower than another offer already the subject of protracted negotiations.

Eddie Jordan

Photo by: Glenn Dunbar / Motorsport Images

For around 18 months the German entrepreneur Daniel Loitz has been trying to buy London Irish and Hazelwood through his company, Hokulani Ltd. For a time he was running this bid in parallel with efforts to acquire the troubled Reading Football Club– a deal which would have had some synergies since London Irish played at Reading’s stadium from 2000 to 2020.

While the Resolve Group had previously confirmed that proof of funds had been supplied and Hokulani Ltd had “preferred bidder” status, that process broke down earlier this week when Loitz pulled out, complaining of “frequent and unexplained changes” since two other bidders entered the picture in late 2024.

“While we respect the complexities of such proceedings, the lack of transparency and consistency has been deeply frustrating,” said Loitz in a statement published on social media.

“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 jeopardises the future of rugby at this historic site, that decision will rest with them.

“Hokulani Ltd’s vision has always been clear: to preserve and enhance the legacy of London Irish, ensuring that Hazelwood remains a thriving hub for the sport and its supporters.”

Strangford Ellis Ltd is a so-called Special Purpose Vehicle, managed by another entity, Jordan Associates Ltd, of which Jordan’s son Kyle is a senior partner. Strangford Ellis “specialises in minority strategic investments in sports entities with significant cultural and historical value”.

In a statement the new owners said: “The primary goal of the new ownership is to return London Irish Rugby Club to the pinnacle of international professional club rugby, aiming for a swift return to top-flight competition.”

It has been reported that Strangford Ellis may not target a return to the English Premiership but instead look to the United Rugby Championship, an equivalent competition contested by teams from Ireland, Scotland, Wales and South Africa.