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Provinces expected to support NZ Rugby's Silver Lake deal

The next step in New Zealand Rugby’s private equity journey is expected to be completed next Thursday.

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NZ Rugby's provincial unions will vote on the deal at its AGM next week. Source: 1 NEWS

NZR’s annual general meeting is set down for April 29, with the 26 provincial unions voting on whether to sign the deal with the US based global investment company, Silver Lake.

1 NEWS understands that will be a resounding yes, with the provinces making it clear they support the move.

It is understood Silver Lake will sign on for a 12.5 per cent stake in future revenues, and a new commercial company to be set up by NZR, paying close to $400 million.

That is less than the figure which has been widely reported in the past few months.

Even if NZR does not have the support of the Players Association by next week, they will continue mediating with the players' representatives. 1 NEWS has been told Silver Lake is taking a patient approach to signing the new deal.

Silver Lake has $150 billion invested in a range of global sporting companies, including Manchester City, the New York Knicks and the UFC, among others.