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)

Wed, 04 Oct 2023

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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