In exchange for Silver Lake, the Players’ Union offered a substitute

Mathieu WARNIER, Media365, posted on Friday May 14, 2021 at 10:45 am.

As part of its official opposition to the arrival of Silver Lake in the capital of All Blacks, the New Zealand Players Union presented an alternative financing plan on Friday.

The economic crisis linked to the health crisis New Zealand has yet to give up rugby. In the face of financial difficulties, the New Zealand Rugby Federation (NZR) contacted US investment fund Silver Lake. In exchange for 12.5% ​​of the commercial rights to All Blacks, as well as managing derivative partnerships and broadcast television, this fund pledged $ 280 million. An amount that would allow correction of NZR’s accounts. However, if the UNGA General Assembly unanimously expressed its support for this plan in April, the New Zealand Players Association (NZPRA) is not of the same opinion, having expressed its opposition to the arrival of foreign investors alongside all blacks. NZPRA has a veto that could cancel the deal altogether, which the New Zealand rugby leaders rely on.

NZR is angry with the players

Realizing that NZR needed funding, NZPRA on Friday offered an alternative to Silver Lake’s entry into the capital of the trading company that oversees All Blacks. A plan whose stated goal is to keep the choice in New Zealand’s hands. This will include selling 5% of the commercial rights to New Zealand mutual funds or designating them as “friends” as part of the capital increase. “NZR will retain much more control over its future, more flexibility and more options, and will share its future results with New Zealanders who wish to invest in the company,” the Players’ Union said in a statement. Letter to the leaders. From the union. The latter responded via General Manager Mark Robinson, who said he was “shocked and disappointed” to see NZRPA go directly through the media to present their plan and try to sabotage a potential deal with Silver Lake. Former All Blacks captain and president of NZPRA, David Kirk confirmed that he is open to dialogue with the union.