NZR review
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New Zealand Rugby’s (NZR) voting members have ratified Marise James to take up the final position on the NZR Board.
The NZR Appointments and Remuneration Committee (ARP) put James forward for ratification at the beginning of March. Ratification required majority approval from NZR’s voting members, consisting of the 26 Provincial Unions and the NZ Māori Rugby Board. The ratification postal ballot closed at 5pm on Wednesday 12 March.
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The AGM is today. Mark Robinson and David Kirk will front the media this afternoon.
As reported previously, NZR made another loss in 2024.
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@Bovidae said in NZR review:
As reported previously, NZR made another loss in 2024.
Revenue up $17M, loss up from $8Mish to $19M.
Something in there needs some serious attention. And silverlake may pick up 7.7% of revenue in a year or two, indefinitely.
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As the article says NZR spent more on Teams in Black and Admin, plus other expenses/losses. Totals in $000
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@Bovidae said in NZR review:
As the article says NZR spent more on Teams in Black and Admin, plus other expenses/losses. Totals in $000
Why do they have an interest expense. I thought they had funds in reserve?
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@Toddy said in NZR review:
@kev said in NZR review:
Why do they have an interest expense. I thought they had funds in reserve?
Majority of that is Silverlake isn't it?
They had funds in reserve prior to Silverlake deal I thought. If anything the deal should have added to that pot.
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They have to make payments (4%??) to Silver Lake and currently those payments are interest payments due to the debt type of funding that was setup with Silver Lake. It would change (I think) if Silver Lake exercises it's option to take an equity position.
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@Toddy said in NZR review:
They have to make payments (4%??) to Silver Lake and currently those payments are interest payments due to the debt type of funding that was setup with Silver Lake. It would change (I think) if Silver Lake exercises its option to take an equity position.
Ok makes sense. But the Silver Lake deal is a dog. Didn’t realise they had that option. How long for? So NZRFU have to repay debt if option not exercised. What exactly have they done for this option so far? Amateur hour..
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I think if they don't exercise the deal then NZR would just keep paying the interest expense as it's a perpetual debt instrument. There's no paying it back. If the option is exercised then Silver Lake would take the slice of revenue and the $10.5m interest would stop and the $21m ish payments based on commercial revenue will start.
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I'm suitably impressed by the financial acumen of NZR to develop that sort of deal.
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@kev said in NZR review:
@Toddy said in NZR review:
They have to make payments (4%??) to Silver Lake and currently those payments are interest payments due to the debt type of funding that was setup with Silver Lake. It would change (I think) if Silver Lake exercises its option to take an equity position.
Ok makes sense. But the Silver Lake deal is a dog. Didn’t realise they had that option. How long for? So NZRFU have to repay debt if option not exercised. What exactly have they done for this option so far? Amateur hour..
Probably updated the format of the player stats site.
I wondered if anyone (everyone) else thought it was as shit as I do - seems @Nepia and I are in complete agreement for once!
Enshitification at work!
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@Chris-B said in NZR review:
I wondered if anyone (everyone) else thought it was as shit as I do - seems @Nepia and I are in complete agreement for once!
It looks shiny and new but is complete crap. With the old stats site you could easily find info. Now it just appears to be player bios. I was curious to know who is now the oldest living AB. That was an easy click before. Now, who the fuck knows!
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@Toddy said in NZR review:
I don't think so. It's the interest payments if they decide not to convert. It's the portion of commercial revenue, not profit, if they do decide to convert. One or the other.
The key is they have the option so guaranteed minimum revenue and upside if things improve.
What’s missing Is any news on what has happened post deal. Developing new revenue stream for any business is very difficult. Sports is a saturated market I would have thought.
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@kev said in NZR review:
What’s missing Is any news on what has happened post deal.
That's it isn't it, from the outside it appears theynhave done nothing for us, yet this deal was meant to open new doors and increase revenue
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@taniwharugby said in NZR review:
@kev said in NZR review:
What’s missing Is any news on what has happened post deal.
That's it isn't it, from the outside it appears theynhave done nothing for us, yet this deal was meant to open new doors and increase revenue
NZR+
Which fuck all signed up to and now they put it all on YT etc anyway... Maybe young hip people want to watch that, but I want games and good analysis. Sky does one, only @Mauss and Squidge (cos I fin him funny YMMV) do the other
Final member of New Zealand Rugby Board ratified
