Silver Lake’s Investing into cash strapped New Zealand rugby union
The, deal would see Silver Lake acquire a 12.5% stake in new commercial entity, valuing NZR's rights at NZ$3.1bn
New Zealand Rugby's finances hit by Covid-19 pandemic has revealed that private equity firm Silver Lake will acquire a
12.5 per cent stake in its new commercial entity for NZ$387.5 million valuing the national rugby union body's rights at NZ$3.1 billion.
According to documents the Rugby organising body will be asked to approve the deal at their annual general meeting. If confirmed, it would be the first time the All Blacks would not solely belong to New Zealanders. This is not going over well with Kiwi rugby supporters and players union.
For the deal to be approved, it must receive support from over half of New Zealand’s provincial rugby unions and the approval of the NZ Rugby Players Association (NZRPA). However the players union could prove to be a stumbling block having already expressed its opposition to the deal and threatening to block Silver Lakes from proceeding.