The Wallabies had canceled a number of test matches over the past year due to the Covid-19 pandemic, which affected Rugby Australia’s bank balance. PHIL WALTER / GETTY IMAGES
Organization chairman Hamish McLennan said he had no choice but to seek funding to keep rugby from returning to an amateur game in Australia. On the same day, the 26 provincial unions of New Zealand rugby voted unanimously for a deal with the American private equity group Silver See.
McLennan and the new managing director Andy Marinos met with their NZR colleagues to discuss the risks of private individuals To discuss equity, Fox Sports reported.
« We model and plan what we really need because we only really want it once. » So it’s going to be between 10 and 15 percent, probably 12.5, we might be 15. «
McLennan said that selling any part of your business wouldn’t be required in a perfect world.
» Still, I think any injection of good finance, marketing, and sponsorship is a good thing actually I’m not afraid of it. I think the more we have a variety of skills at the table, the better it is. «
McLennan said when he succeeded Raelene Castle in the middle of last year, it was said that that the game could possibly become an amateur.
« It was a real possibility. It wasn’t just idle talk. But we did it and there is light at the end of the tunnel. »
According to Fox Sport, the RA became 2020 was supported by loans from World Rugby (NZ $ 14.8 million) and HSBC (NZ $ 7.4 million), while in March of this year an additional loan from World Rugby of NZ $ 5.8 million when the Covid-19 pandemic was approved ravaged the sport with a 41 percent drop in sales (NZ $ 49 million).
Ref: https://www.fijitimes.com
