Posted on May 14, 2021 at 10:45am
While the New Zealand Rugby Union intends to sell a portion of the commercial rights of the All Blacks to US investment fund Silver Lake, the players’ association has presented a plan to secure funding for the union without resorting to such a solution.
The economic crisis linked to the health crisis did not spare New Zealand the game of rugby. in financial difficulty, The New Zealand Rugby Federation (NZR) has contacted US investment fund Silver Lake. In return for 12.5% of the commercial rights to All Blacks, but also management of partnerships related to derivatives and television broadcasting, this fund pledged $ 280 million. An amount that would allow the NZR accounts to be corrected. If the General Assembly of the Federation unanimously expresses its support for this plan during the month of April, The New Zealand Players Association (NZPRA) disagrees, having expressed its opposition to the arrival of foreign investors alongside the All Blacks.. And NZPRA has a veto that could cancel the deal entirely, which New Zealand’s rugby leaders rely on.
New Zealand’s anger at the players
Recognizing that New Zealand needs financing, Friday’s NZPRA offered an alternative to entering Silver Lake in the All Blacks’ corporate capital. A plan with the stated goal of keeping the choice in New Zealand’s hands. This will include selling 5% of the trading rights to New Zealand mutual funds or deeming them “friends” as part of a capital increase. ” NZR will retain much greater control over its future, greater flexibility and more options, and will share its future results with New Zealanders who wish to invest in the company. », the Players Association is tasked with a letter addressed to the leaders of the Federation. The last replied via General Manager Mark Robinson, who said he was “shocked and disappointed” to see the NZRPA go straight to the media to present their plan and try to sabotage a potential deal with Silver Lake.. Former All Blacks captain and NZPRA president, David Kirk, confirmed he is open to dialogue with the union.
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