Federal Reserve Bank of New Zealand agrees to sell All Blacks shares to US investors

Federal Reserve Bank of New Zealand agrees to sell All Blacks shares to US investors

Europe 1 with AFP
adjusted to

7:51 AM, April 29, 2021

The New Zealand Rugby Union (NZR) on Thursday approved the “revolutionary” project to sell shares of its All Blacks brand to US investors, a controversial option players have not yet accepted. “We think this is a truly transformative opportunity,” the NZR president emphasized.

The New Zealand Rugby Union (NZR) announced Thursday that it supports a controversial plan to sell shares in its All Blacks brand to US investors, calling it a “revolutionary turning point for rugby”. “We believe this is a truly exciting and transformative opportunity that could benefit the entire sport for generations to come,” said Mark Robinson, president of NZR.

The deal with California-based investment fund Silver Lake Partners won unanimous approval from the district federations at the union’s annual general meeting in Wellington, but it still had to be given the green light Thursday in principle. Players Association will be approved. The New Zealand Federation has responded favorably to a proposal by the California-based Silver Lake Fund: $280 million (230 million euros) to acquire part of the All Blacks brand, that of the men’s three-time World Championships, who have won eight out of ten matches.

A very controversial choice

However, this choice is still very controversial, and some even mention the possibility of vetoing by players. The All Blacks are a historical monument and a daily obsession in New Zealand, they are an integral part of the lives of the residents, of their national pride, a stone’s throw from the Australian and South African rivals.

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But the business stake is important. Silver Lake wants to buy 12.5% ​​of the commercial rights and the right to broker deals around the world to sell TV rights and merchandise. This would bring the total commercial value of New Zealand rugby to $2.2 billion (€1.8 billion).

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