The global superstar rugby team of New Zealand, the All Blacks, are in search of a private equity investor off the back of the damage done by the pandemic.
The All Black’s cash reserves of NZ$86 million (around £44 million) have been cut down by almost 50%. This is after the team had expected to earn a revenue of NZ$100 million before the sport was suspended during the lockdown. New Zealand Rugby Chief Executive, Mark Robinson, has said they “are open to looking at partners who may invest in New Zealand Rugby.”
The private equity firm, CVC Capital Partners, had already purchased parts of the English Premiership and Europe’s Pro14 before the lockdown, and are in talks to invest in the Six Nations Championship. This could be worth considering, with rumours that the famous All Blacks name could be sold to the highest bidder.