Directors of Leicester Tigers, Tom Scott and Peter Tom, have made an investment commitment which could raise up to £13m for the club.
The proposal would see Scott, a non-executive director, and executive chairman Tom increase their shareholdings in the club, with Scott becoming a majority shareholder.
Shareholders will vote on whether to accept the board’s plans on March 3.
In a statement, Leicester Tigers’ CEO Andrea Pinchen said: “Tom Scott is a long-standing supporter of the club and a valued member of the board of directors who over his tenure with the club has already invested over £10m.
“Peter Tom has been chairman of Leicester Tigers since 1993, having made 130 appearances for the club between 1963 and 1968 and has been a huge part in navigating the club through the professional era.
“We are very grateful that Peter and Tom are looking to extend their investments in Leicester Tigers at a time when the club is suffering some very challenging conditions from factors mostly outside of our control.
“Their decision to invest at this time will give the club the financial assurance to execute the club’s strategy of continued success and financial sustainability.”
Leicester Tigers would initially receive £8.3 million, with Peter Tom investing £3 million and Tom Scott investing £5.3 million, to be followed by a further £4.7 million.
If the investment plans are not passed, the appointment of administrators is anticipated.
