New Zealand players reveal their option to sell part of the All Blacks squad
The New Zealand Rugby Players' Association (NZRPA) on Friday unveiled a financing proposal aimed at keeping the All Blacks in New Zealand hands, sparking anger among New Zealand rugby executives seeking a deal with US investors.
The union, which brings together elite New Zealand rugby players, said their proposal offers the cash-strapped New Zealand Rugby (NZR) a viable alternative to selling part of its stake in its All Blacks brand to Californian private equity firm Silver Lake Partners.
The latter intends to pay $280 million to obtain 12.5% of the commercial rights owned by NZR, and the right to negotiate commercial and broadcast contracts around the world.
The plan put forward by the players is to sell 5% of the All Blacks' rights in a capital raise that would attract New Zealand financial institutions and investors.friends”.
“NZR will retain greater control over its future, greater flexibility and more choice, and will share its future results with New Zealanders who want to invest in the business.” NZRPA said in a letter to NZR.
Opposing Silver Lake's proposal, the players' union has veto power, despite unanimous support expressed by the New Zealand Association at its annual general meeting last month.
When requested, NZR has not yet provided any comments on the content of the players' plan, but its general manager Mark Robinson, quoted by several local media outlets, has already said he is “shocked and disappointed” that such a proposal has been made to the team. Media before NZR.
According to him, it also contains confidential information that the players’ union does not have the right to disclose.
He added: “This is a fundamental violation of the trust and partnership that we have so far attached great importance to.” He accused the players of trying to sabotage the Silver Lake deal.
Many of the assertions were officially rejected by Players Association president and former All Blacks captain David Kirk. “We are facing a situation where New Zealand rugby could be changed forever. The idea that we are not prepared to discuss and debate different options is simply ridiculous.to reply.