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Tuesday, April 23, 2024

New Zealand Rugby backs All Black private equity ‘revolution’

The proposal faces a potential veto from the Rugby Players Association, some of whom believe the soul of rugby’s most storied national team is being sold.

WELLINGTON: New Zealand Rugby backed a “revolutionary” plan to sell a stake in the famed All Blacks to US investors on Thursday, despite opposition from top players.

The NZR’s provincial unions unanimously backed the deal with California-based Silver Lake Partners at its annual general meeting in Wellington, with chief executive Mark Robinson describing it as a one-off chance to reset the cash-strapped body’s finances.

“We believe it is an exciting and truly transformational opportunity that can benefit the entire game for generations to come,” he said.

But the proposal faces a potential veto from the Rugby Players Association — which represents the…

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