All Blacks get their private equity deal
BREAKING NEWS: New Zealand Rugby confirmed they had secured a NZ$200-million (US$134-million) investment from US private equity firm.
This was announced after NZ Rugby finally gained support for the deal from the players’ union.
“This partnership presents rugby with an extraordinary opportunity to secure its future and unleash its true potential,” NZ Rugby Chief Executive Mark Robinson said in a statement.
“We are truly excited by what we can achieve together with Silver Lake’s world class capabilities,” he added.
The statement said the partnership marks the beginning of a “transformational phase” for the entire game in New Zealand.
It will provide money for the cash-strapped union to invest in priorities such as women’s and grassroots rugby, as well as creating a legacy fund ensuring financial stability well into the future.
It follows almost two years of sometimes acrimonious negotiations when the New Zealand Rugby Players’ Association threatened to veto the deal.
NZRPA chairman David Kirk, who last year told AFP he feared the investment would result in the famed All Blacks being sold out to commercial interests, said he now supported the partnership.
“The agreement provides capital on a sound economic basis and Silver Lake brings the additional capability to execute on the new growth opportunities,” he said.
Under the deal, Silver Lake gains a stake in NZ Rugby’s commercial rights and is expected to take the lead negotiating merchandise and broadcast deals worldwide.
“Digital technologies are transforming all sports, and we look forward to bringing our global network and resources to help New Zealand rugby drive innovation and take advantage of all the opportunities ahead,” Silver Lake managing director Stephen Evans said.
The focus for the Americans is the All Blacks, the three-time world champions recognised globally as the benchmark in Rugby Union.
