Former skipper David Kirk has warned the All Blacks' planned private equity deal with US investors is a "slippery slope" that could see the legendary rugby team sold out to commercial interests. He told AFP that fans needed to understand the long-term risks of the proposed tie-up between New Zealand Rugby and California-based investment firm Silver Lake Partners. "I think it's probably the biggest change for New Zealand rugby since professionalism," he said. Since hanging up his boots, Kirk has forged a successful business career and stayed in touch with the game through his work with the Rugby Players' Association. The Silver Lake deal involves the US firm paying $280 million for a 12.5 percent stake in NZR's commercial rights, and the right to negotiate merchandise and broadcast deals worldwide.

Source: News 24 May 21, 2021 03:45 UTC