New Zealand rugby unions to sell All Blacks stake to US firm

Proposed sale involves a 12.5 percent stake in commercial arm of New Zealand Rugby to private equity firm Silver Lake.

New Zealand’s 26 provincial unions have unanimously approved the sale of a 12.5 percent stake in the commercial arm of New Zealand Rugby (NZR), including the All Blacks national team, to United States-based private equity firm Silver Lake. The All Blacks are by far New Zealand’s best-known sports brand and one of the most successful teams in international sport, winning more than three-quarters of the matches they have played. The 387.5 million New Zealand dollars ($281.8m) deal, which values NZR’s commercial rights at $2.23bn, still needs to be approved by the New Zealand Rugby Players’ Association (NZRPA), who have expressed reservations about the deal.