The association, which brings together New Zealand’s best rugby players, said their proposal offers the cash-strapped New Zealand Federation a viable alternative to selling part of its stake in its All Blacks brand in California private equity firm Silver Lake. partner.
The latter plans to pay $280 million to acquire 12.5% of the commercial rights held by NZR and the right to negotiate worldwide trade and distribution contracts.
The plan presented by the players is to sell 5% of All Blacks’ equity as part of a capital increase that will attract New Zealand financial institutions and “friendly” investors. “NZR will retain significantly 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 NZRPA said in a letter to the NZR.
Contrary to Silver Lake’s proposal, the players’ union has a veto, despite the collective support the NZR expressed at its annual general meeting last month. When asked, NZR has not yet commented on the content of this player’s plan, but its CEO Mark Robinson, quoted by several local media outlets, did indeed say he was “shocked and disappointed” that the suggestion had been made to the media earlier. from NZR.
According to Robinson, it also contains confidential information that the Players Association does not have the right to disclose. “This is a fundamental breach of trust and partnership that we attach great importance to thus far,” he said, accusing the players of trying to sabotage the Silver Lake deal.