NZR deal advancing

Rugby: New Zealand Rugby's negotiations with US private equity firm Silver Lake are advancing, reports suggesting a minority stake of up to 15% could soon be sold off.

The process follows the realisation NZR's financial model can no longer rely solely on the All Blacks to fund the game.

Silver Lake, a worldleading technology investor with a $US75 billion ($NZ104.5 billion) portfolio of companies, would be likely to focus on an attempt to build its digital and media rights, including broadcasting, which reflects a similar approach from City Football Group, the owner of Manchester City. — The New Zealand Herald