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.
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Former New Zealand captain Richie McCaw says NZR need to be careful over the proposed private equity deal.
Former All Blacks captain Richie McCaw has questioned New Zealand Rugby s approach to their planned private equity deal with US investment giant Silver Lake. McCaw said NZR’s ‘take it or leave it’ approach over the controversial deal left him wondering, while he’s received feedback on private equity which “scares me”. Talking to NZME, the two-time Rugby World Cup winner said he’s tried to be open-minded about the proposal floated by NZR and approved by its 27 provincial unions.
Shocked : New Zealand Rugby slams players boss for attempt to destroy $387.5m deal
14 May, 2021 12:15 AM
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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.
New Zealand Rugby has reacted angrily to a players association proposal for a public share float which the association believes is better than the Silver Lake deal.
The Rugby Players Association and investment company Forsyth Barr has put together a proposal that would see NZR sell a 5% stake in of its commercial right via a public share float.
New Zealand Rugby s chief executive, Mark Robinson, said in a statement the organisation has been let down by the Players Association. We are shocked and disappointed that Rob Nichol (NZRPA chief executive) has shared another counter proposal with media before sharing it with New Zealand Rugby.
Robinson didn’t miss. His gripe? He’s got a few. When Nichol allegedly provided the media with a memo before they sent it to NZ Rugby and the provincial unions, with details of a report from Forsyth Barr around an alternative capital raising option, Robinson wasn’t best pleased. He, in fact, came across as angry. He quickly responded via a statement from the NZ Rugby factory. Nichol, Robinson said, had deliberately leaked what he perceived to be confidential information. Prior to this outburst the Cambridge University-educated Robinson had remained calm and measured in public. NZ Rugby chairman Brent Impey, by contrast, gives the impression he relishes having a pop.