New Zealand Rugby said Thursday it had secured a lucrative investment from US private equity firm Silver Lake after overcoming opposition to the deal from the players’ union.
The partnership will see Silver Lake put NZ$200 million ($134 million) into a joint commercial entity, which will remain majority owned by NZR, with a stake of more than 90 percent.
Under the deal, Silver Lake gains a stake in NZR’s commercial rights and is expected to take the lead negotiating merchandise and broadcast deals worldwide.
Read more: France24
