New Zealand Rugby moves closer to selling off stake in All Blacks

New Zealand Rugby moves closer to selling off stake in All Blacks

The Guardian

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  • Provincial unions give green light for NZ$387.5m deal
  • Proposal still needs consent of players’ union to go ahead

New Zealand Rugby has moved a step closer to selling a stake in the game after the nation’s provincial unions voted unanimously to give the green light to a huge deal with a US investment firm.

The 26 unions and the Māori Rugby Board voted to sell a 12.5% stake to the private equity firm Silver Lake that would bring a cash injection of $NZ387m to NZR, which posted a NZ$18.7m operating loss at its AGM on Thursday.

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