A special general meeting of New Zealand Rugby in Auckland voted in favour of a NZ$200 million private equity investment from U.S. firm Silver Lake on Thursday, the final step in the approval process for the groundbreaking deal.
"This is a transformational moment for rugby in at every level of the game and will enable us to move forward, change, and take advantage of the massive opportunities in front of us," NZR Chair Stewart Mitchell said in a statement. Previous investments in the sports market include stakes in City Football Group, the Ultimate Fighting Championship and Madison Square Garden Sports, which owns the NBA's New York Knicks and the NHL's New York Rangers.
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