Private equity firm CVC Capital Partners Ltd. offered to buy a 30% minority stake in the Six Nations Championship rugby tournament and the autumn internationals for £500 million, The Times (U.K.) reported.

The bid was submitted March 11 ahead of a gathering in Dublin, where World Rugby will seek to convince rugby unions to join its planned 12-team Nations League tournament, according to the report.

The Six Nations bid is the latest move by CVC to boost its ownership of rugby unions. In December 2018, CVC was reported to be acquiring a minority stake in Premiership Rugby for £225 million.