Nz Rugby Announces Nz$200m Investment
North American private equity group Silver Lake has bought a minority stake in New Zealand Rugby’s (NZR) commercial business through a NZ$200m (£98.5m) deal.
Under the terms of the deal, the firm will invest in a new commercial entity, NZR CommercialCo, that will house all revenue-generating assets of NZR. The investment, which values NZR CommercialCo at NZ$3.5bn, will provide capital to invest in the game at all levels and support the development of new capabilities and the pursuit of new global opportunities enabled by digital technologies.
In addition, co-investment of up to NZ$100m will be offered to New Zealand-based institutional investors later in 2022. At the conclusion of the additional co-investment, Silver Lake will own between 5.71-8.58% of NZR CommercialCo.
Silver Lake, NZR and the New Zealand Rugby Players Association (NZRPA) will also establish “Global Rugby Opportunities” to invest together in rugby-related businesses outside of New Zealand.
The agreement remains subject to ratification by the Provincial Unions and Māori Rugby Board.
Mark Robinson, NZR’s Chief Executive, said, “This partnership presents rugby with an extraordinary opportunity to secure its future and unleash its true potential. We are truly excited by what we can achieve together with Silver Lake’s world class capabilities: from fostering and growing our grassroots, to enhancing the experiences we can create for New Zealanders, and truly maximising our potential on the global stage.”
Simon Patterson, Silver Lake’s Managing Director, said, “New Zealand has a phenomenal track record in rugby, with a great history and culture of leadership, inclusion and teamwork. Silver Lake is fully committed to rugby in New Zealand, to help build on all these past successes at a key moment in the development of the game globally.”
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