Rugby: approval for Silver Lake to invest €117.9m in New Zealand Rugby via a new commercial company

The boards of New Zealand Rugby (NZR) and the New Zealand Professional Rugby Players' Association (NZRPA) have approved the entry of US investment firm Silver Lake into the capital of New Zealand Rugby via an initial investment of NZ$200m (€117.9m) in a new commercial company (NZR CommercialCo) valued at NZ$3.5bn (€2bn), announced the body on 17/02/2022.

"Later in 2022, an additional co-investment (up to NZ$100m/€58.9m) will be offered to New Zealand-based institutional investors so that domestic capital can have the opportunity to also participate in the investment," said the body. If this amount is not reached through domestic investment, Silver Lake will acquire the remaining share and thus own between 5.71 and 8.58% of NZR CommercialCo, for a total investment of between NZ$200m and NZ$300m (€117.9m and €176.5m).

The agreement also includes the launch of the Global Rugby Opportunities (GRO) programme, which will enable the New Zealand Rugby, the NZRPA and Silver Lake to invest in rugby and technology-related businesses outside New Zealand. NZR and NZRPA will receive "a 15% share…