13 Nov 2012

Rugby synergies seen by Phoenix owners

8:51 am on 13 November 2012

The owners of the Wellington Phoenix see savings in synergies with their stake in the Hurricanes rugby team.

The Welnix group and Wellington Rugby Football Union will each have 50% of a franchise arrangement for the rugby team, in which they will invest up to $3 million over the next three years.

Gareth Morgan, one of the new owners, told Morning Report the Hurricanes is a profitable venture that needs financial stability.

He said potential synergies with the Phoenix include joint sponsorship and sharing training facilities and sports science staff.

The Hurricanes is the first of the franchises to be sold in this way by the New Zealand Rugby Union.

Last year the NZRU put four of the five Super Rugby licences out to tender. An announcement on the Crusanders is expected soon.