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WELLINGTON, Nov 8 (Reuters) - New Zealand's five Super
rugby franchises could be sold under a plan being considered by
the country's governing body.
The New Zealand Rugby Union (NZRU) has begun discussing the
possibility of using private investors to fund the teams
currently based in Auckland, Wellington, Canterbury, Otago and
Waikato.
"This is the future," NZRU chief executive Steve Tew told
the Sunday Star-Times.
"It's something we will work on in the coming years,
because the reality is New Zealand rugby is undercapitalised."
Tew told the newspaper the plan was still in its infancy
and the NZRU was adoping a cautious approach to the best way
forward.
But he said the NZRU would retain a "golden share" to
control some aspects of the proposed sale, including preventing
owners from selling off existing parts of the teams.
"The value of New Zealand rugby is immense," he said. "At
some stage we have to find a better way of cashing in on it."
(Reporting by Julian Linden in Sydney; Editing by Alastair
Himmer. To query or comment on this story email
sportsfeedback@thomsonreuters.com) Updated on Sunday, Nov 8, 2009 1:02 am, EST Email to a Friend | View Popular
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