Cornish Pirates have stolen a march on some bigger sides in the Prem by becoming the first English rugby union club to complete a significant deal with wealthy American-based backers. The Champ club have joined forces with the Pittsburgh-based private equity firm Stonewood Capital with the aim of revitalising the prospects of the Penzance side. The long-term arrangement would give Stonewood a substantial minority stake in the club for what is understood to be an initial seven-figure sum. Pirates officials are calling it a “landmark” deal and a “major milestone in the club’s evolution”. Sally Pettifer, the Pirates’ chief executive, also hopes it could lead to a Cornish team competing in the Prem, with the top tier of English club rugby due to shift to a franchise model in 2029-30. “This is a hugely significant moment for Cornish Pirates,” said Pettifer.…