The investment of Helford Capital Limited in Cardiff Rugby was led by British businessmen Phil Kempe and Neal Griffith, who are on the region's board. Kempe is a Welshman with an association stretching back more than a decade with the club. Cardiff said at the time that Kempe had a range of successful business interests across multiple industries in the UK, Canada and the Middle East. Griffith, who also has Welsh roots, is a former investment banker with numerous global business interests as an investor and director. The duo had significant business relationships in the United Arab Emirates, which they said they planned to leverage for Cardiff's benefit. The takeover followed the death of former chairman and benefactor Peter Thomas in March 2023. The deal secured the minor stake of the Thomas family and other significant shareholders. The takeover was approved by a "99.99% majority" at Cardiff's general meeting. The investment group gained approval from the Cardiff board, the WRU and the Cardiff Athletic Club, which retained a minority shareholding in the club. The due diligence test was undertaken by an independent London-based company. Cardiff Rugby chair Alun Jones said the takeover would "represent a huge moment in the history of Cardiff Rugby and gives us a bright, secure and exciting future".