12:17 – May 14, 2021
Although the New Zealand Rugby Federation intends to sell part of All Blacks ‘business rights to Silver Lake, a US investment fund, the players’ union has put forward a plan to ensure the federation’s funding without seeking a solution.
The economic crisis associated with the health crisis has not left New Zealand rugby. In financial trouble, The New Zealand Rugby Federation (NZR) is affiliated with Silver Lake, an American investment fund. 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 General Assembly unanimously expresses support for the plan in April, The New Zealand Players’ Association (NZPRA), which opposed the arrival of foreign investors with All Blacks, did not accept this.. The NZPRA has the veto power to rescind the New Zealand rugby captains counting agreement.
Angry at NZR players
Know that the NZR needs funding, NZPRA this Friday offered an alternative to the Silver Lake entrance into the capital of the trading company that oversees All Blocks. One goal is to keep the selection in New Zealand’s hands. This includes selling 5% of the business rights to New Zealand investment funds or being considered “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 looking to invest in the company. », Handing over the players association in a letter addressed to the leaders of the federation. The latter replied General Manager Mark Robinson said he was “shocked and disappointed” to see the NZRPA go directly to the media and present their plan and try to sabotage a possible 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.