Aussie rugby mess shows NZR timed private equity run to perfection

Aussie rugby mess shows NZR timed private equity run to perfection
All Blacks owner NZ Rugby's deal with Silver Lake had a 14.5 times revenue multiple. (Image: NZME)
Paul McBeth
Rugby Australia’s failure to win over private equity suitors highlights the old adage that in the oval-ball game, you always bet on black. New Zealand Rugby’s (NZR) final deal with US private equity heavyweight Silver Lake valued the All Blacks machine at $3.5 billion, putting it in the realms of NZ’s biggest listed construction firm, Fletcher Building’s $3.7b market capitalisation. It also tacked on an extra $400 million to the original $3.1b valuation in a deal rejected by the NZ Rugby Players’ Ass...

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