Plan to counter the arrival of Silver Lake

Published on May 14, 2021

Updated May 14, 2021

The economic crisis linked to the health crisis does not spare New Zealand rugby. In financial distress, The New Zealand Rugby Union (NZR) has approached US investment fund Silver Lake. In exchange for 12.5% ​​of the commercial rights of the All Blacks, as well as the management of partnerships related to derivative products and television broadcasts, this fund promised $ 280 million. It is the amount that will make it possible to correct the NZR accounts. However, if the Federation’s General Assembly unanimously votes in favor of 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.. The NZPRA has veto power that could simply cancel the deal, which New Zealand rugby leaders are counting on.

NZR is angry with the players

Recognizing that NZR needs funding, The NZPRA on Friday presented an alternative to Silver Lake’s entry into the All Blacks’ corporate capital. A plan whose stated aim is to keep choice in New Zealand’s hands. This could include selling 5% of the trading rights to New Zealand investment funds or considering it as a ‘friendly’ as part of a capital raise. ” 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 company. », the Players Union states in a letter addressed to the union’s leaders. They responded via CEO Mark Robinson, who said he was “shocked and disappointed” to see the NZRPA go straight to the media to pitch its plan and try to sabotage a potential deal with Silver Lake. David Kirk, former All Blacks captain and president of the New Zealand Football Association, confirmed that he was open to dialogue with the federation.