Red Bull Takes Full Ownership of Newcastle Falcons
Austrian company Red Bull has acquired Newcastle Falcons, rebranding them as Newcastle Red Bulls. The move showcases confidence in the rugby club's potential amid struggles faced by several Premiership clubs. This is Red Bull's first foray into rugby ownership after other sports investments.
In a significant move within the rugby world, Austrian energy drink giant Red Bull has acquired full ownership of the Newcastle Falcons, rebranding the premiership rugby team as the Newcastle Red Bulls.
The Kingston Park-based club has been facing challenges, finishing last in the Premiership standings for three consecutive seasons. This acquisition marks Red Bull's first venture into rugby, although the company already owns sports teams in Formula One and soccer worldwide.
Rugby Football Union CEO Bill Sweeney praised Red Bull's investment, describing it as a vote of confidence in the Premiership's potential. The acquisition comes at a time when several Premiership clubs are struggling financially, highlighting Red Bull's belief in Newcastle's possibilities on the field.
(With inputs from agencies.)
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