New Zealand Rugby to sign commercial deal with Silver Lake

By STEVE McMORRAN
AP Sports Writer

WELLINGTON, New Zealand (AP) — New Zealand Rugby has been given approval to sign a ground-breaking deal with private equity firm Silver Lake which will bring a cash windfall but which some observers fear may threaten the “special bond” between New Zealanders and the All Blacks national team. Silver Lake will pay around 200 million New Zealand dollars ($130 million) for a share of between five and eight percent in NZR’s future commercial revenues which it pledges to use its expertise to increase. NZR will use the money to improve player pay, support grassroots rugby and shore up its finances which were hard-hit by the pandemic.