Silver Lake has reached a deal to invest up to $200 million into New Zealand Rugby, which runs the internationally famous All Blacks team as well as domestic leagues. The private equity firm will own up to 8.6% of a new entity that will house all the New Zealand Rugby assets, according to a release from the parties Wednesday afternoon.
The deal comes in two parts. First, Silver Lake invests $134 million (NZD$200) up front into the new business housing New Zealand rugbys revenue-generating properties at a valuation of $2.4 billion. The cash infusion buys Silver Lake a perpetual convertible note, which can be turned into equity by Silver Lake in three years time. Later on this year, Silver Lake will underwrite an offering for New Zealand-based institutional investors of $42 million to $67 million, with the California-based investment firm potentially buying the entire offering depending on domestic investor demand.
At the end of the process, Silver Lake will own at least 5.7% of New Zealand Rugby and as much as 8.6%, which is less than the previously discussed 10% to 15%. The deal has been in the works for close to a year, with New Zealanders wary of allowing U.S. investors into the countrys rugby organization. The New Zealand Rugby Board and the players association have approved the deal. It still needs sign-off from the countrys provincial rugby unions and the Maori Rugby Board.
This is a pivotal moment for rugby in New Zealand, said players association chairman David Kirk, in the release. The agreement provides capital on a sound economic basis and Silver Lake brings additional capability to execute on the new growth opportunities. The proposed investment by New Zealand institutions provides an opportunity and natural pathway for New Zealanders to share in the growth of rugby over time. New Zealand Rugby will retain control over rugby and commercial strategy under the pact.
The rugby organization and players union also gain a stake in a new Global Rugby Opportunities fund with Silver Lake that will invest in global rugby and rugby-related technology, earning the New Zealand entities a 15% cut of profits.
Digital technologies are transforming all sports, and we look forward to bringing our global network and resources to help New Zealand rugby drive innovation and take advantage of all the opportunities ahead, said Silver Lake managing director Stephen Evans.
Read the original here:
Silver Lake Buying Up to 8.6% of New Zealand All Blacks - Sportico
- New Zealand keep series alive after England's dramatic collapse - Yahoo Sports - March 24th, 2024 [March 24th, 2024]
- New Zealand to Ban Disposable Vapes | TIME - TIME - March 24th, 2024 [March 24th, 2024]
- U.S. Men's Olympic Soccer Team to Face France, New Zealand and Asia-Africa Playoff Winner in Group A at 2024 ... - U.S. Soccer - March 24th, 2024 [March 24th, 2024]
- Around the world: New Zealand settling into World Championship - worldcurling.org - March 24th, 2024 [March 24th, 2024]
- New Zealand will ban disposable e-cigarettes in a bid to prevent minors from taking up the habit - The Associated Press - March 24th, 2024 [March 24th, 2024]
- New Zealand beat England by three runs in third womens T20 international as it happened - The Guardian - March 24th, 2024 [March 24th, 2024]
- Thailand revokes visas of New Zealand tourists after roadside brawl with police - South China Morning Post - March 24th, 2024 [March 24th, 2024]
- England beat New Zealand by 15 runs in second womens T20 international as it happened - The Guardian - March 24th, 2024 [March 24th, 2024]
- England Women begin tour of New Zealand with victory in opening T20 - The Guardian - March 24th, 2024 [March 24th, 2024]
- Jack Blacks epic New Zealand Warriors moment goes viral: Up the Wahs! - New Zealand Herald - March 24th, 2024 [March 24th, 2024]
- New Zealand vs England third T20 result: Hosts keep series alive - The Telegraph - March 24th, 2024 [March 24th, 2024]
- More details revealed about New Zealand interest in joining AUKUS security pact - RNZ - March 24th, 2024 [March 24th, 2024]
- For 60 years NZ has searched its 'Bermuda Triangle' for the Dragonfly a plane that got lost in the clouds - ABC News - ABC News - March 24th, 2024 [March 24th, 2024]
- Filipina-Kiwi actress Franki Russell appointed as Miss Universe New Zealand - GMA News Online - March 24th, 2024 [March 24th, 2024]
- England suffer dramatic three-run defeat to New Zealand in third T20 international - Sky Sports - March 24th, 2024 [March 24th, 2024]
- England take T20 series lead with comfortable win over New Zealand in Dunedin as Heather Knight stars - Eurosport COM - March 24th, 2024 [March 24th, 2024]
- New Zealand February trade data shows exports and imports both climbing from January - ForexLive - March 24th, 2024 [March 24th, 2024]
- New Zealand v England: Tourists collapse to hand White Ferns victory in third T20 - BBC - March 24th, 2024 [March 24th, 2024]
- Thailand revokes visas for New Zealand tourists arrested for attacking police officer - The Independent - March 24th, 2024 [March 24th, 2024]
- Does a weak New Zealand economy lead to a weak NZ dollar? - Interest.co.nz - March 24th, 2024 [March 24th, 2024]
- England Women suffer defeat against New Zealand in Nelson - SuperSport - March 24th, 2024 [March 24th, 2024]
- SailGP Black Foils win ITM New Zealand Sail Grand Prix in the chaos and collisions - Sailweb - March 24th, 2024 [March 24th, 2024]
- 'Dragonfly' plane mysteriously lost in New Zealand's 'Bermuda Triangle' is still being searched for 60 years later - Supercar Blondie - March 24th, 2024 [March 24th, 2024]
- New Zealand adds two Paris 2024 Olympic spots at Oceania qualifier - World Archery - March 24th, 2024 [March 24th, 2024]
- China always regards New Zealand as a sincere friend, important partner amid complex international situation ... - Global Times - March 24th, 2024 [March 24th, 2024]
- Chumbawamba asks New Zealand's populist party to stop using hit song Tubthumping - The Independent - March 24th, 2024 [March 24th, 2024]
- Captains knock from Knight helps England to T20 win in New Zealand - The Guardian - March 24th, 2024 [March 24th, 2024]
- Why is New Zealand's deputy PM rowing with Chumbawamba? - The Spectator - March 24th, 2024 [March 24th, 2024]
- Molly Caudery's New Zealand training is just another example of her life of chaos... the pole vaulter is one o - Daily Mail - March 24th, 2024 [March 24th, 2024]
- We Were Dangerous Filmmakers On Their Hilarious Yet Tense New Zealand Period Drama - Screen Rant - March 24th, 2024 [March 24th, 2024]
- Police hunt for two women kicked out of Auckland metal concert - New Zealand Herald - January 14th, 2024 [January 14th, 2024]
- Hospitality New Zealand to launch industry strategy looking to next 10 years - RNZ - January 14th, 2024 [January 14th, 2024]
- Australia, New Zealand move toward clean energy transition - Anadolu Agency | English - June 9th, 2023 [June 9th, 2023]
- Airdate: New Zealand From A Train - TV Tonight - June 9th, 2023 [June 9th, 2023]
- Labours Winter Plan Excludes Half Of New Zealand - Scoop - June 9th, 2023 [June 9th, 2023]
- What's New On Disney+ | Flamin' Hot (Australia/New Zealand) - What's On Disney Plus - June 9th, 2023 [June 9th, 2023]
- Roundup: Telehealth providers needed in rural New Zealand and ... - Healthcare IT News - June 9th, 2023 [June 9th, 2023]
- Why it's taking so long to open New Zealand's first Ikea - Stuff - June 9th, 2023 [June 9th, 2023]
- New Zealand companies showcase apple, kiwi in HCM City - Viet Nam News - June 9th, 2023 [June 9th, 2023]
- Christopher Luxon has a point: New Zealand needs more people - Stuff - June 9th, 2023 [June 9th, 2023]
- Climate scientist says New Zealand insulated from worst, but warns ... - RNZ - June 9th, 2023 [June 9th, 2023]
- Can the New Zealand Super Pacific teams be stopped this weekend? - RNZ - June 9th, 2023 [June 9th, 2023]
- New Zealand Fiji reaffirm close relationship - Beehive.govt.nz - June 9th, 2023 [June 9th, 2023]
- New Zealand has a new Scrabble champ - Times - Times Online - Auckland - June 9th, 2023 [June 9th, 2023]
- Elite sports trainer had sexual relationship with teen athlete who fell ... - New Zealand Herald - June 9th, 2023 [June 9th, 2023]
- New independent advisory board welcomed to the Royal New ... - New Zealand Police - June 9th, 2023 [June 9th, 2023]
- IBM New Zealand's profit took a mauling in FY2022 - Reseller News - June 9th, 2023 [June 9th, 2023]
- Elliott Smith: Why NZ has a Super Rugby coaching problem - New Zealand Herald - June 9th, 2023 [June 9th, 2023]
- Hospitality Innovator To Open Hospitality New Zealand Conference - Scoop - June 9th, 2023 [June 9th, 2023]
- The New Zealand travel card game being adopted by stoned ... - The Spinoff - June 9th, 2023 [June 9th, 2023]
- Boxing New Zealand welcomes IOC's decision to terminate 'corrupt ... - Stuff - June 9th, 2023 [June 9th, 2023]
- How a spooky old water tank inspired New Zealand's latest creature ... - The Spinoff - June 9th, 2023 [June 9th, 2023]
- He drove almost the length of New Zealand: Truck driver disqualified ... - New Zealand Herald - June 9th, 2023 [June 9th, 2023]
- What will 200000 buy in Norway, Sweden, South Africa, New ... - The Irish Times - June 9th, 2023 [June 9th, 2023]
- Where to find New Zealand's best sea experiences on World ... - New Zealand Herald - June 9th, 2023 [June 9th, 2023]
- New Zealand specialists to probe sudden chicken deaths - Cook Islands News - June 9th, 2023 [June 9th, 2023]
- Qantas v Air New Zealand to New York: Is there room for both? - New Zealand Herald - June 9th, 2023 [June 9th, 2023]
- A Journey Through New Zealands Less-Visited Corners Showcases Mori ... - March 31st, 2023 [March 31st, 2023]
- New Zealand: 7.1-magnitude earthquake prompts tsunami warning in ... - March 20th, 2023 [March 20th, 2023]
- New Zealand actress Melanie Lynskey reveals romantic behind the scenes secret from The Last of Us series - New Zealand Herald - March 20th, 2023 [March 20th, 2023]
- Gin Wigmore on what she doesnt miss about New Zealand and gnarly birth experience - New Zealand Herald - March 20th, 2023 [March 20th, 2023]
- China wants to help New Zealand recover from Cyclone Gabrielle, including financing, constructing key infrastructure - Newshub - March 20th, 2023 [March 20th, 2023]
- New Zealand on Alert over Supervolcano with Explosive History - March 13th, 2023 [March 13th, 2023]
- New Zealand police reach more people previously not contactable after ... - February 20th, 2023 [February 20th, 2023]
- Cyclone Gabrielle: fresh storm warnings for New Zealands worst-hit ... - February 20th, 2023 [February 20th, 2023]
- UPDATE: New Zealand government estimates more than $8 billion worth of damage caused by cyclone Gabrielle - Euro Weekly News - February 20th, 2023 [February 20th, 2023]
- Warning as major new scam cons New Zealand investors out of millions in just a few weeks - Newshub - February 20th, 2023 [February 20th, 2023]
- 15 Most Beautiful Small Towns in New Zealand - WorldAtlas - February 5th, 2023 [February 5th, 2023]
- Ed Sheeran dissed New Zealand chocolate in 2015 - now he thinks it's 'actually alright' - Newshub - February 5th, 2023 [February 5th, 2023]
- New Zealand lifts state of emergency declaration as rain ... - February 2nd, 2023 [February 2nd, 2023]
- New Zealand Pop-Punk Band Goodnight Nurse Are Reuniting to Open for My Chemical Romance Next Month - Concrete Playground - February 2nd, 2023 [February 2nd, 2023]
- New Zealand prepares for more flooding after country's ... - January 31st, 2023 [January 31st, 2023]
- Auckland flooding: death toll rises as New Zealand hit with ... - January 31st, 2023 [January 31st, 2023]
- There is still enough pull to play for New Zealand: Ferguson on players giving up contracts - The Indian Express - January 31st, 2023 [January 31st, 2023]
- India Predicted XI vs New Zealand: Will Prithvi Shaw be roped in for IND vs NZ 3rd T20I? - Republic World - January 31st, 2023 [January 31st, 2023]
- New Zealand climate and weather | 100% Pure New Zealand - January 2nd, 2023 [January 2nd, 2023]
- Countdown for New Year begins; New Zealand welcome 2023 as millions celebrate - The Economic Times - January 2nd, 2023 [January 2nd, 2023]
- New Zealand Welcomes The New Year In Grand Style | Fireworks Show From Auckland's Sky Tower - News18 - January 2nd, 2023 [January 2nd, 2023]
- Sir John Key says mainstream thinking will embrace China again, New Zealand will have 'magnificent' relationship with Beijing - Newshub - December 18th, 2022 [December 18th, 2022]
- Glowworms, rubber tubes, and the Nile: A most unusual adventure in New Zealand - Moneycontrol - December 18th, 2022 [December 18th, 2022]