A completed takeover would end Rowe’s decades-long stint at the helm of the two-time Premiership and 2020 European champions.

Under his guidance, the Chiefs have progressed from the fourth tier of English club rugby to the top flight and moved to their current Sandy Park home in 2006.

The stadium has since undergone a number of developments with plans to expand it to a capacity beyond 20,000 also in the pipeline.

Rowe, who made his fortune in telecommunications, sponsored much of the club’s rise and development as he incorporated conferencing and events into the club’s business portfolio at Sandy Park.

The club reached six consecutive Premiership finals from 2016 as well as winning a maiden European crown as the club attracted internationals such as Geoff Parling and Nic White to a side that also had homegrown stars including Jack Nowell, Luke Cowan-Dickie and Henry Slade.

But since the onset of the Covid-19 pandemic, Exeter have struggled financially. Rowe bought a hotel on the Sandy Park site in December 2022 to help pay off some of the Chiefs’ pandemic-related debts while the club saw much of their international talent leave between 2022 and 2024 as they cut the wage bill.

Last season the club finished ninth in the 10-team Prem, but after a number of coaching changes and investment in players such as Len Ikitau, Tom Hooper, Andrea Zambonin and Stephen Varney, are challenging for a play-off place this season.

Exeter members and fans will hope the new investment can help re-establish the club as one of English rugby’s major domestic forces.