The large deal is still on the table but everything around it continues to change daily.
The standoff between New Zealand Rugby and its players association over the proposed $387.5 million sell-off to private equity giants Silver Lake will roll over into next week as the parties desperately search for common ground.
Stuff has been told that Rob Nichol’s New Zealand Rugby Players’ Association (NZRPA) has rejected a New Zealand Rugby proposal to pitch their preferred model to the board on Friday because of the logistics involved in getting their key people there. There is hope that a meeting between the two parties can be arranged for next week, though no date has been set of yet as the two sides remain a long way apart on the proposed deal.
Richie McCaw is a two-time World Cup-winning captain Photo credit: Image - Getty Images, video - Newshub
A veteran of 148 tests and winner of two World Cups as captain, McCaw admits the Silver Lake deal scares him.
While acknowledging he and current players need to be open-minded about foreign investment into the New Zealand game, he fears for the future of the sport if a thorough risk assessment isn t undertaken. Being told [by NZR] that s the only option and we take it or leave it, does make you wonder. I can see how a whole lot of money coming in would make people feel pretty excited about it. But when you talk with people about private equity, the feedback I get is to be very careful, that you have to understand the motivation, which is to make money off it. Straight away that scares me.
Shocked : New Zealand Rugby slams players boss for attempt to destroy $387.5m deal
14 May, 2021 12:15 AM
5 minutes to read
Everything you need to know about the Forsyth Barr deal. Video / NZ Herald
NZ Herald
New Zealand Rugby boss Mark Robinson has hit back at the Players Association s attempt to destroy the Silver Lake deal , saying the governing body was not aware of the counteroffer tabled by Kiwi investment manager Forsyth Barr.
An alternative offer to Silver Lake, valuing NZ Rugby at a $3.8 billion, has been tabled by Forsyth Barr, a proposal conducted at the request of the New Zealand Rugby Players Association which is not supportive of selling a stake in the national game to the US fund manager.