3 Jun 2022

Provincial unions on Silver Lake deal signoff

From Morning Report, 8:17 am on 3 June 2022

New Zealand Rugby's deal Silver Lake was signed off yesterday when the 26 provincial unions and Māori Rugby board agreed to terms.

The deal will see the US private equity firm invest $200 million in a new commercial entity that will control all revenue-generating assets of NZ Rugby.

Of that, $37 million has been put aside for a short-term investment, with provincial unions set to receive $20m, $14m will go the NPC unions and $6m to the Heartland unions.

The provincial unions had wanted any cap on the amount of money they would receive from future revenue removed, a seat on the CommercialCo board, and more clarity around how the money would protect the future of the community game.

Auckland Rugby Union chairman Stu Mather and Whanganui Rugby Union chief executive Bridget Belsham spoke to Guyon Espiner.