Sport
Rugby Australia needs private equity, but how much is it willing to give up? – Sydney Morning Herald
Thursday’s financial results in Australia and New Zealand have exposed some harsh truths about rugby’s fragile state.
But thats a falsely rosy picture because it does not take into account the plight of the provincial unions. Taranaki announced on Thursday they would be almost insolvent if it were not for government wage subsidies in 2020. No Taranaki, no Barrett brothers. NZ Rugby cant allow the provincial unions to go under. So, they need capital, too, and are convinced that selling 12.5 per cent of the farm is the way to go.
But thats a big number, and heres why. A Kiwi provincial rugby source told the Herald…
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