The economic crisis associated with the health crisis has not left New Zealand rugby. In financial trouble, the New Zealand Rugby Federation (NZR) has approached the US investment fund Silver Lake. The fund pledged $ 280 million to cover all of Blacks’ business rights, but also to manage offspring and television broadcasting-related partnerships. Amount allowed to adjust NZR’s accounts. But if the Federation’s General Assembly unanimously declares support for the plan in April, the New Zealand Veterans Association (NZPRA) will not have the same opinion. The NZPRA has the veto power to terminate the New Zealand rugby leaders’ counting agreement altogether.
Angry at NZR players
Aware of the need for funding for the NZR, the NZPRA this Friday proposed an alternative to the Silver Lake entry into the capital of the trading company that oversees All Blocks. One goal is to keep the selection in New Zealand’s hands. It is considered the sale of 5% of business rights to New Zealand investment funds or “friends” as part of a capital increase. “NZR will retain more control over its future, greater flexibility and additional options, and will share its future results with New Zealanders who want to invest in the company,” the players’ association said in a statement. Of the Federation. Responding via General Manager Mark Robinson, he said he was “shocked and disappointed” to see the NZRPA present their plan directly through the media and try to sabotage a deal with Silver Lake. David Kirk, the former captain of All Blocks and head of the NZPRA, has confirmed his readiness to negotiate with the federation.
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