'Shocked and disappointed': NZR boss slams players' boss for 'attempt to destroy' Silver Lake deal
New Zealand Rugby [NZR] chief executive Mark Robinson has slammed his New Zealand Rugby Players’ Association [NZRPA] counterpart Rob Nichol for his organisation’s “attempt to destroy the Silver Lake deal”.
It was revealed on Friday that an alternative offer to US-based private equity firm Silver Lake has been tabled by Auckland-based investment manager company Forsyth Barr.
Forsyth Barr’s proposal to sell a five percent stake in NZR’s revenue-generating assets via an NZX-listed entity to the Kiwi public and institutions was shared to media by the NZRPA, who have been vocal in their opposition against the Silver Lake deal.
Forsyth Barr’s chairman and former All Blacks captain David Kirk is also president of the NZRPA.
Valuing NZR between $3.4 billion and $3.8 billion, up to $700 million more than Silver Lake, the NZRPA believes the Forsyth Barr deal provides better value for the national governing body.
However, Robinson has slammed the players’ association in stunning fashion for leaking the proposal, of which he says NZR were unaware of, to the press before informing the organisation beforehand.
“We are shocked and disappointed that Rob Nichol has shared another counter proposal with media before sharing it with New Zealand Rugby,” Robinson said in a statement.
“As such we have not had sufficient time to digest or understand what has been proposed or comment on the detail.
“Further, it includes confidential information about our organisation that we have not consented to being made public or shared with Forsyth Barr or any other professional entity. This is a fundamental breach of trust and the partnership which up until now we valued highly.”
He added that NZR is not willing to enter debate over alternative options to the Silver Lake deal.
“NZR has no desire to continue to play out an ill-informed ‘my model is better than yours’ debate – nor do we think the public like it – and we would have rather continued to constructively negotiate with Rob Nichol and his Board which we have made clear.
“Through doing this, the NZRPA leadership has unilaterally taken a decision to attempt to destroy the Silver Lake deal – and the incredible financial and capability outcomes it would provide for all of rugby, as acknowledged by the unanimous vote of our Provincial Unions and Maori Rugby Board as well as the independent validation of the deal by PWC and global investment bank Jefferies.
“We are sorry, that for the players, their own Union has put them in this position where the greatest opportunity for the future of all of Rugby in New Zealand could be lost.”
Last week Caleb Clarke announced his plans to link up with the All Blacks Sevens squad in the hopes of chasing gold at the re-scheduled Tokyo Olympics this July.
Who, in Clarke’s absence, will take over the All Blacks’ No 11 jersey? #AllBlacks https://t.co/RC0LH7AyGj
— RugbyPass (@RugbyPass) May 14, 2021
Robinson reportedly said in an email to NZR staff, obtained by the New Zealand Herald, that NZR’s relationship with NZRPA was subsequently “at a new low”.
“We have been advised this morning, at very late notice, that the New Zealand Rugby Players’ Association has released to the media an alternative capital raising option for rugby in New Zealand – based on initial public offering (IPO) model to sell 5% of an NZR CommercialCo.
“We believe their proposal, which has been worked up together with Forsyth Barr, will go public at midday or soon after,” the email said.
“We are incredibly disappointed with this turn of events, and have just now sent the below statement to media as an initial response. To have the NZRPA prepare this work, without any notification or involvement of NZR, and without any legal consent to utilise our information in doing so, and then present it to media before ourselves, sadly represents a new low in our relationship with the NZRPA and the critical discussions over the financial future of the game.
“We are in contact with our Provincial Unions and other stakeholders and will update staff further once we know more. There will be significant media interest in this story and we are working hard to ensure that NZR’s voice is heard effectively on this over the coming hours and days.”
The public spat is the latest in the ongoing conflict between the two organisations regarding the decision to sell a stake a stake in NZR.
Provincial unions and the Maori Rugby Board voted unanimously in favour of the Silver Lake last month, the same time of which outgoing NZR chairman Brent Impey said he was “very disappointed” at opposition to the deal.
It’s understood the deal to sell a 12.5 percent stake to Silver Lake would give NZR a much-needed $387.5 million financial boost.
Comments on RugbyPass
Karma is a powerful force
20 Go to commentsFrench players said the same thing to the All Blacks after their pool match in 2011. But the French can back up their s**t talk with action.
67 Go to commentsThe problem is the officiating & changing rulings,& TMOs.Last weekend I saw a 9 penalized for a crooked scrum feed! the last time I saw that rule applied was In about 1975!!!!!!!!.Late or not the incident is history & Australians alleging that Kiwi rugby supporters wear eye patches is a bit rich.Try listening to Australian Commentators.Every new player who has an above average game is suddenly the next great sensation.
20 Go to commentsEvery Irish fan in the stadium celebrated like they had won the tournament after the SA and Scotland games so yeah, the way Etzebeth tells it stacks up. It was definitely ‘In Their Heads’!
67 Go to commentsEtsebeth is right about 1 thing. Boks after winning a RWC have been crap. Only in 2009 did they reach the heights of what a RWC Champion should look like but that was only after 3rd/last in the TriN 2008. Lost a home series in 1996 (vs ABs); didnt win even 1 x Rugby Championship after 2019. ABs and Wallabies and England at least played like Champions after winning RWC.
67 Go to commentsCrusaders will knock one of the top seeds out in the first round, hope it’s not my Chiefs
28 Go to commentsEben really seems like just a deeply unpleasant man.
67 Go to commentsDMac. BB crabs too much at 10.
4 Go to commentsIt is every boys dream to be a Springbok. I managed it in a discipline other than rugby…But rugby, I have always engaged with passion. It does my old heart good to see the mix of people in the team and this displays the possibilities for this wonderful country. The logo “stronger together” says it all. This current edition of the Boks is nothing short of inspirational.
3 Go to commentsIrish people about the best damn people on the planet. OK, in the NH. Fijians are the World’s best happiest friendliest people. But as far as European cultures producing good people, Ireland stands alone. But on the rugby pitch there is a creeping arrogance that has detached from humility. eg Sexton abusing a match referee, and not for the 1st time. He was extremely lucky to make it to the RWC, strings were pulled. And O’Mahoneys sledge to Cane was lowballing, attacking an opposition Captain seems opportunistic and gutter talk. Cane is a real gentleman. Have never seen ABs unleash after the whistle like they did on O’Mahoney after QterF, it was well deserved. Unlike Bok supporters, the Bok players understand history. Massive amount of respect between Boks and ABs is evident, they get on well and have throughout history. Even Pinetree Meads best mate (except his old cobber Kel Tremain) were Springboks, friendships forged after tours. And Meads was always targetted given his star status (he even played 2 x Tests with a broken arm). On the contrary, ABs and Wallabies famously dont get on, bad blood after Aussies not taking offer of beersies postmatch.
67 Go to commentsHaha god NZ journalism is so crap listen to this guy “We’ll be proven in a few weeks if our baseless bs can stick” lol Everywhere else uses experts to write stuff but here they’re just career guys that don’t care about what they write, NOT CONCEDED A TRY IN YEARS lol > “Naturally, you’re looking for performance, sometimes that means you can’t think logically or use evidence to arrive at any sort of clarity of decision. Pretty much sums it up to a tee Paul ignores the articles in here about then runs off each team this year, that Penney is just a yearly stop gap until, who, Ellison is released by ABs, the huge imbalance of the injury front between teams at each end of the table, or who it was that _should_ have been coach. But of course if they actually do evidence and investigative work theyre shy of their article not hitting that sensationalism boundary and lose revenue. Leaving us non the wiser. They look like they would have been best with a geeup coach this year to turn around the razorless depression the clubs obviously going through. Hard to think of someone fitting the Bill to have been chosen instead, the clown Cheika? Id have been tempted to double play and entice O’Gara down. Hell maybe that is who they are waiting for, he wants a international gig and it could be after Scmidt or razor
28 Go to comments_Dan Carter weighs in on who should be Scott Robertson's All Black 10_ Dan: “It’s a toss up between Beudy and Dmac, although Mounga would be nice - but he can’t… so…” The Rugby Public: “Thanks Dan. For nuthin!”
4 Go to commentsEngland did this way back for the Croke Park match in the 2000’s. The shame actually seemed to weigh on them during the match. It will not be easy for Northhampton players to rationalize how their army went into a stadium of a major city of the then United Kingdom and opened fire indiscriminantly into terraces killed 14 and wounding scores. I am sure with a pro setup they will get this balance right. I live beside the stadium. A very old woman on the street remembers as a very young girl the crowds of people filling the street to escape the massacre. A lot of water under the bridge and the match has really little historical relevance for Irish/Leinster supporters any more. Those ghosts were freed in the trashing of England in the 2000’s match. Sure, it will motivate Leinster but Northhampton should not overly consider it or weigh on it in my opinion. Dowson is right to learn the historical importance and Northhampton are indeed giving the occasion due respect. It is important to show respect. But that’s enough for Northhampton. Fair play to them. On to the rugby now.
15 Go to commentsDouble World Cup Champions ? Wow since when did 4 become 2!
214 Go to comments“See you in the final” from a winning (Irish) team is just away of wishing a team well for the rest of the tournament. It’s actually saying I hope we both make it to the final. Etzebeth was the only player who PUBLICLY said that his team would make the final after that match. Does anyone honestly think Ireland who took 100 years to beat NZ and got hammerred by them in 2019 would for the slightest moment not take the perilous threat as seriously as it should be taken? Getting sick of Boks and Kiwis who spend all year every year trying boasting about how great and humble they are and then accusing others of arrogance. Respect people by trying to understand them before hitting a pretty humble people with this crap.
67 Go to commentsThe feelings of gratitude I feel when thinking about the Boks is difficult to describe. It really means a lot to people here. I would flat out ask Ox for a big hug if I met him in person. And then probably pass out after the squeeze. Totally worth it.
3 Go to commentsFarrell seems to be an outstanding coach and Ireland a very well prepared team. But they looked like they had no plan B against NZ. Maybe they really were looking past them, as Eben says.
67 Go to commentsMaybe if you come once in your life in France you won’t writte so much nonsense 🙃
1 Go to commentsWhy did they kill 14 people at a gaelic football match? What had happened earlier that day? Dowson sounds absolutely pathetic, believing what the Irish say about his people, rather than believing what his people say about the Irish.
15 Go to commentsI haven't really experienced the Irish as arrogant but I guess the players maybe got ahead of themselves after a big win. Just thought it being Ireland and their love afair with WC QF exits and it being the ABs maybe they would have taken it a bit more seriously. Maybe they did and just lost anyways, who knows.
67 Go to comments