All Blacks Won’t Commit to 2022 Share Sale During Form Slump
- New Zealand Rugby says placement timing ‘a work in progress’
- Investors may put on-field performance under closer scrutiny
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New Zealand rugby administrators may be rethinking plans to seek additional capital from investors this year amid a run of poor form by national men’s team the All Blacks.
New Zealand Rugby in June agreed to sell a minority stake in its commercial operations to US private equity firm Silver Lake for NZ$200 million ($122 million), valuing its business at NZ$3.5 billion. It also said it would raise as much as NZ$100 million through an additional offer to New Zealand investors “later in 2022,” underwritten by Silver Lake.