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ew Zealand Rugby (NZR) is reportedly nearing a deal with US private equity firm, Silver Lake, for a minority stake of up to 15% of NZR.

Discussing the impact the private equity deal would have on NZR when it was first reported in May 2020, a NZR spokesperson told NZ Herald: “You would set up a subsidiary company of NZ Rugby and get investment into that company in some form of partnership.”

“You put commercial assets into that company, whether that’s in combination with Sanzaar partners and something like Super Rugby in its reincarnated form, or the Rugby Championship.

“We’ve got to get revenue streams and we can’t afford to fund those ourselves.

“Certainly at the Super Rugby level, our financial model there is under huge pressure, both the competition and our teams.

“We’re grossly under-capitalised.

“That’s a critical area,” the spokesperson said.

Sky News first reported the 15% stake, indicating the deal would value the All Blacks at about $2.6 billion, with the publication reporting the deal could be finalised as soon as this month.

The Californian-based company, Silver Lake recently acquired an investment in City Football Group, the holding company of Premier League club, Manchester City, and was a part of a consortium that bought the UFC competition.

While reports suggest Silver Lake has progressed to nearly finalising a deal with NZR, Bruin Sports Capital is also reported to have been in negotiation over a stake in the All Blacks.