Over $300m sought for ABs jersey

New Zealand Rugby is hoping to raise more than $300 million through selling the All Blacks jersey to an overseas investor, according to a report.

NZR’s current deal with American insurance giant AIG – which has naming rights to the All Blacks jersey – expires in 2021, leaving the union – which lost $7.5m loss in 2019 and is planning to shed nearly 50 per cent of its staff – seeking a new investor.

A New Zealand Herald report claimed NZR will offer a portfolio of sponsorship rights to the All Blacks, Black Ferns, national Sevens, Ma¯ori and under-20 teams.

The report claimed the package could be offered to a major United States investor, or a Japanese advertising agency, which could then on-sell to companies wanting their names on the New Zealand teams’ jerseys.

‘‘Our view is that we need to be flexible about what the audience and potential buyers are looking for,’’ NZR chief commercial officer Richard Thomas told the New Zealand Herald.

AIG announced last January that it would be ending its sponsorship – first negotiated in 2012 and renewed in 2016, and thought to be worth $120 million to NZR.

New Zealand Rugby chief executive Mark Robinson said at the time AIG had provided it with ample time to prepare for new opportunities in the future.

‘‘We have enjoyed a hugely successful and mutually beneficial commercial partnership that has helped both AIG and NZR to strengthen our respective brands on the world stage,’’ he said.

‘‘Through this partnership, NZR and the six national teams sponsored by AIG have been able to grow rugby’s presence in new and growing markets, with opportunities to play in new territories and introduce our teams to new fans all over the world.’’

TUIPULOTU RESIGNS

All Blacks lock and Blues captain Patrick Tuipulotu has resigned with New Zealand rugby until after the 2023 Rugby World Cup.

The 27-year-old lock, who has

30 test caps for the All Blacks and

74 matches for the Blues since his debut in 2014, has become a regular in All Blacks squads, and played five matches at last year’s World Cup.

NZ Rugby is hoping to sell rights to all its national team jerseys.