NZ Rugby alleges players association attempting to destroy $387.5m Silver Lake deal
14 May, 2021, 2:10 pm
New Zealand’s rugby players have ramped up their campaign backing an alternative to the $387.5 million offer from American equity giants Silver Lake to buy a 12.5 per cent stake in the Kiwi game, leading the NZR to lash back alleging a breach of trust.
A memo from the New Zealand Rugby Players Association has gone out on Friday to directors of NZ Rugby and provincial union chairs detailing advice they had commissioned from Forsyth Barr around an alternative capital raising option.
David Kirk, the association president, is chairman of Forsyth Barr.
NZ Rugby chief executive Mark Robinson swiftly attacked the memo as having leaked confidential information without permission, a breach of trust, and a bid to destroy the Silver Lake proposal.
That approach would sell 5 per cent of NZR’s revenue-generating assets to the Kiwi public and institutions via a stock exchange-listed entity.