Leicester Tigers has announced it's up for sale in a bid to 'reclaim dominance' in English and European rugby.
The club announced its sale on Tuesday alongside a "full strategic review", saying it is in the best interests of its players and supporters.
Peter Tom CBE, Leicester Tigers Executive Chairman, said: "CVC’s investment in Premiership Rugby has created a unique opportunity – catapulting the sport into the public consciousness like never before and broadening its appeal to potential investors.
"It is our duty as a Board to explore the Club’s strategic options and assess the best possible ownership structure to benefit from the changes ahead on and off the pitch."
Leicester Tigers said it's the most successful club of the professional era, winning more titles than any other English team.
The Tigers finished 11th out of 12 teams in the Gallagher Premiership last season having never previously come lower than sixth and they have not won the title since 2013.
Simon Cohen, the club's chief executive officer, said: "The investment and changes in English Premiership rugby present a huge opportunity for the club and a new investor.
"As the most prestigious club in English rugby, this development will further supportLeicester Tigers in its ambition to be the most successful club in England and Europe, to the benefit of our players, the club and our loyal supporters."