English rugby champions Saracens are one of 13 clubs set to reap an extra $33 million each from a new investment in the premiership competition.

The English Rugby Premiership's salary cap will not be raised for at least two years despite a $431 million boost from a new sponsorship deal with a private equity firm which once bank rolled Formula One motor racing.

Premiership Rugby clubs voted unanimously on Wednesday (Thursday NZ time) to accept a £230 million ($NZ431m) offer from CVC Capital Partners for a 27 per cent stake after earlier rejecting the company's £275m ($NZ515m) offer for a controlling interest.

The premiership's 12 clubs and London Irish, who were relegated last season, will each receive around £18m ($NZ33.7m) from the new deal.

Premiership Rugby wants clubs - who collectively lost to invest in infrastructure, including new stadia, rather than boost payments to players.

Tony Marshall Alex Lewington scores for Saracens in an English club game.

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Steve Bardens Rugby Premiership chief executive Mark McCafferty.

Each team's current £7m ($NZ13m) annual salary cap would remain in place for the new two years, Premiership Rugby chief executive Mark McCafferty told English media.

"We have a salary cap in place and that's not moving for the next couple of years. We are investing in operations and infrastructure, that's the key," he said.

Some clubs, including Bath where former All Blacks captain Todd Blackadder is director of rugby, were already planning stadium redevelopments prior to the CVC windfall.

CVC made £8 billion ($NZ15bn) from its ownership of Formula One, according to a report in The Guardian.

David Rogers Exeter's Jack Nowell dives over to score a try against Bath in the English Rugby Premiership.

McCafferty said Premiership Rugby were "happy that CVC's track record speaks for itself".

"They were in MotoGP for eight years and only came out of that because of the requirements for moving into Formula One. They were in Formula One for the best part of 10 years.

"They are expecting to be in this for the long term and they understand what's required to invest and build.

"I expect Premiership Rugby in seven or eight years' time to be an even more globally followed business. That expansion needs support.

"The clubs see this as a way to accelerate growth and bring new fans into the game and opening up audiences."

David Rogers Premiership Rugby chairman Ian Ritchie.

Premiership Rugby chairman Ian Ritchie - a former Rugby Football Union (RFU) chief executive - said the CVC deal was "complementary and not in any way competitive" with Premiership Rugby's £220m ($NZ414m) eight-year Professional Game Agreement with the RFU. The agreement - due to expire in 2024 - facilitates the release of club-contracted players for international duty.