Six Nations Rugby announced on Thursday it had agreed to sell a stake in the tournament to private equity firm CVC Capital Partners in a five-year deal worth up to £365 million ($500 million). Tournament chiefs said in a statement that CVC would "invest up to £365 million for a 1/7th share in Six Nations Rugby, working alongside the rugby unions of England, France, Ireland, Italy, Scotland and Wales, which will together retain a 6/7th share." The deal with the firm, which already has significant investment in the English Premiership and Pro14, is subject to regulatory approvals. "This is a hugely positive development and I want to express my thanks to all parties involved," said Ben Morel, CEO of Six Nations Rugby. jw/gj