'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
Four Kiwis in that backline. A solid statement on the lack of invention, risk-taking and joy in the NH game; game of attrition and head- banging tedium. Longterm medical problems aplenty in the future!
1 Go to commentsGood article, I learnt quite a lot. A big sliding door moment was in the mid 00s when they rejected Steve Anderson's long term transformation and he wrote Ireland's strategy instead.
2 Go to commentsHi Dr Nick! I'm worried that I've started to enjoy watching England and have actually wanted them to win their last two games. What would you prescribe? On a more serious note, I've noticed that the standard of play in March is often better than early February. Do you think this is because of the weather or because the players have been together for longer?
9 Go to commentsMy question in all this brett is who is going to wear the consequences of these actions? Surely just getting the sack isn’t sufficient? A teenager working the till at woolies would probably get taken to court if they took $20 out of the till. You mean to tell me that someone can spend $2.6 million and get away with it? Where was it spent? What companies/people were the beneficiaries etc? How is it just being talked about as an ‘oopsie’ and we all just move on and not a matter of the court for gross negligence, fraud, take your pick…
18 Go to commentslove Manu too but England have relied on him coming back from injury for far too long and not sorted the position with someone else long term . It will be a blessing he has gone . Huge shame he was so injury prone . God speed Manu .
3 Go to commentsI agree with Ben Smith about Brett Cameron. The No. 6 position has to be a monster and a genuine lineout option, like Ollivon, Lawes (now Chessum), Du Toit, etc. The only player who fits that bill right now is Scott Barrett. A fit and fizzing Tuipolotu together with one of the young towers, Sam Darry or Josh Lord, would give Razor the freedom to play Barret at 6.
15 Go to commentsOutstanding article, Graham. Agree with all of it. And enjoy the style of writing too (particularly Grand Slap!).
2 Go to commentsI wouldn't pay a cent for that loafer. He just stands around, waiting for play to come his way. He won't make the Wallabies.
1 Go to commentsGood bit of te reo maori Nic. Or is that Niko or Nikora? On the theme of trees the Oaks v Totara. Game plan would be key. I have one but it would cost you.
9 Go to comments> Shaun Edwards’ You should not have to score 30 points to win a game, as exciting as it is. This statement was surprising to me. It is nonsensical .I guess it is a defence coach speaking. But head coach, defence and attacking coaches all work together. They are inseparable. You score more than the opposition to win. It only needs to be one score. You score whatever the game demands, whatever the opposition demand. You defend whatever it takes. The attack coach needs to be able to clock up 30pts if need be.
9 Go to commentsWho’d have thought, not having Farrell & Youngs kicking the ball at every possible opportunity and playing flat and allowing your centres to run and pass would pay off? No one could possibly have seen this coming. FML. It took a LONG time coming but at least that time has finally come. England need to find a backup to Lawrence. Freeman is the best candidate for me, I see no reason why he can't play 12. He's big, strong, fast and has great hands.
9 Go to commentsLove Manu but he's not the player he was and I imagine Bayonne have paid too much money for him.
3 Go to commentsNew Zealand have not beaten England since 2018 and even that was a pretty close shave.
1 Go to comments“a renewed focus on Scottish-qualified players” Scottish-qualified is another way of saying English. England has development more players for the Scotland national Rugby team in the last 4 years, than Scotland has.
2 Go to commentsThis sounds a lot like the old Welsh rugby proverb “Wales never lose. Other teams just score more points.”
5 Go to commentsFinally,at last, Borthwick has done what the whole of England have been crying out for. Ditch the kick chase and let the players have freedom to attack and run with the ball. It was great to see. Ford played really well and for the first time in ages was 5 yards closer to the gainline which then allowed a more attacking position . Pity it has taken 90 odd caps to do so. However, this has to continue and not be a false dawn . One issue. Marcus. With Ford having one really good game in 5 ,is he the answer long term . Smith puts bums on seats and is terrific to watch . How can you leave him out before he departs for France in disillusion . England are in danger of Simmons , Alex Goode , Cipriani , Mercer and now Smith being unable to get a selection ahead of “favourites” of the management regardless of form . Great to see England play so well .
2 Go to commentsCockerill was an abrasive player in the mould of a Georgian front rower who will have the respect of that pack. Looking forward to seeing what he can do with this exciting team, hopefully they can send a message to unions like Wales that money alone doesn't buy you wins.
2 Go to commentsI like the look of those July matches. Hopefully they'll get some good tests in November too.
2 Go to commentsThis is a poor article, essentially just trolling six nations teams
22 Go to commentsConnaught man? How you can write that without blushing.
6 Go to comments