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 NZRs take it or leave it approach over the controversial deal left him wondering, while hes received feedback on private equity which scares me.
Talking to NZME, the two-time Rugby World Cup winner said hes tried to be open-minded about the proposal floated by NZR and approved by its 27 provincial unions.
ELIAS RODRIGUEZ/Photosport
Mark Robinson and Brent Impey speak to media after NZ Rugbys in April.
NZ Rugby wants to secure a deal worth $387.5 million with the US investment behemoth because it needs money at its annual meeting in Wellington recently, NZR announced a $34 million loss for 2020. This followed a loss of $7.4 million the previous year.
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However, the move has been opposed by the NZ Rugby Players Association, with the rift deepening each week between the two organisations.
On Friday, NZ Rugby chief executive Mark Robinson took aim at NZRPA boss Rob Nichol after Nichol allegedly provided the media with a memo before it sent it to NZR and the provincial unions, with details of a report from Forsyth Barr around an alternative capital raising option.
Because we’re a small country, and there’s always the challenge about there being enough money in the game to compete, McCaw said.
Hurricanes cut loose with some dazzling tries at the SCG.
But there’s also the feeling of, ‘What happens down the track? Is it the right thing? What are the risks?’. You’d like to stack it up against the other options.
Being told [by NZ Rugby] 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.
I’m not an expert in the field, but there were business people who would say to me, ‘be careful’.
McCaw, the most-capped All Blacks test player in history, said from his time in the players’ association, the sustainability of the game in NZ was a focus.
Players association boss Rob Nichol has put forward an alternative proposal.
What’s happening now feels exactly the same to me. The current players will not be driven by how much money is going to come to them, but about what’s best for New Zealand rugby,” he told NZME.
We’ve got to have a look at it and debate it, McCaw said of the alternative proposal.
Don’t be afraid of it. It’s not saying one’s definitely better than the other, but the thing I really want to see is to look at these options, and don’t just dismiss it because it wasn’t yours.
The big thing I hope is that this new proposal on the table actually gets discussed, and not just dismissed. For me, it’s another option that I didn’t think was possible, but it looks like it could be.