It's a one-off payment. So won't make a difference - other than the teams now all need to start to work out where and how to make up what will be diminishing TV revenue year after year.

- So it's a one-off payment that any promoted team outside the 13 will not benefit from over the coming years.
- So any promoted team will still have to buy shares in PRL from their own finances.
- So any promoted team will still have to fund their own ground improvements and top flight players without any assistance from the CVC deal.
- So any promoted team in coming years will still have to give up 35% of premiership and European revenues due to PRL and shared equally between premiership clubs each year.

Starving any club outside the privileged 13 of finances is clearly ring-fencing by the back door.

Furthermore, the assumption that CVC can increase revenue is also not at all certain. The RFU has had to eat very humble pie recently when renegotiating sponsorship deals.