31 Mar 2021

Fitzpatrick for potential NZ Rugby partial sale offshore

From Checkpoint, 5:23 pm on 31 March 2021

All Black great Sean Fitzpatrick says a multimillion-dollar deal to sell part of NZ Rugby offshore is the best option, and without it the local game is in dire straits.

The $460 million deal would see US investment firm Silver Lake buy a 15 percent share in NZ Rugby.

In a letter to NZ Rugby several high profile past and current players say they will block the deal because they are worried about it losing control, there's potential for cultural misappropriation and there are other investment opportunities they want explored.

A mediator has been called in to resolve a stand off between the two sides.

But Fitzpatrick is backing the deal.

"I think in terms of the money, the number they are proposing is as good as we will get anywhere... I think [the buyers] are as good as anyone.

"When you look at the hard facts, Silverlake is very good at hiring the right people. There's nothing to stop us from going and hiring the right people, but why would you ...

"I would like to see the players more involved (in the deal)... they need to know exactly what is going on, as we did 25 years ago when the game went professional. The players were hugely involved in that.

"Let's not forget... New Zealand Rugby and the Players Association are partners in this together. They shouldn't be fighting. They should be sitting around a table as I think they are doing today and tomorrow in mediation to try and get a deal together."

As for concerns raised by players, Fitzpatrick said the grass roots of the sport was its fabric, and "at the moment, grass roots is struggling. We need money to fix it". 

"The challenge for New Zealand Rugby is once they have that money, how are they going to use that money to fix the grass roots."

Without the deal, players would be lost, he said.

"We won't be able to keep them in New Zealand. New Zealand Rugby in the last 10 years has done a phenomenal job of keeping our leading players here and playing for the All Blacks. Ultimately they can't continue to do that because it's not sustainable the way rugby is the way at the moment."

He expected the deal with Silver Lake to go through.