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All Blacks selling their souls? New Zealand Rugby mulls controversial US investment

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💰💰💰 New Zealand Rugby is poised to vote on the sale of a multi-million dollar stake in its legendary AllBlacks franchise to a US private equity firm, opening a new front in the battle over big money in sport IOLsport rugby

New Zealand rugby's governing body is expected to approve the US$280 million offer from California-based Silver Lake investments at an annual general meeting in Wellington on Thursday.But the proposal faces a potential veto from players, some of whom believe the soul of rugby's most storied national team is being sold.

Over the decades the team has won worldwide recognition for the attacking verve that has delivered three World Cups and a win rate of almost 80 percent. "Clubs have sold their souls and then had to do complete backflip," former NZR chief executive David Moffett told Radio NZ. All Blacks fans reacted angrily to a shirt sponsorship deal with US insurance giant AIG in 2012, flooding the team's Facebook page with comments accusing NZR of disrespecting a jersey that until then had been largely commercial free.

 

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