Fiji seek $10m for Super Rugby side

The Fiji Rugby Union is seeking private capital of up to $10 million and will offer majority ownership of a team in Super Rugby in 2022.

Having been offered the opportunity to field a team in Super Rugby, subject to meeting a range of conditions set down by NZ Rugby, the FRU is now seeking an investor to help make the dream a reality.

The investor, or investors, will be offered a majority ownership of the entity which will own and operate the team.

Together with its ‘‘business plan’’, the FRU has prepared an information memorandum to outline the opportunity and attract investors.

In a statement, FRU CEO John O’Connor said asking for private capital was a ‘‘fact of life’’ for sporting teams and franchises around the world.

‘‘And we are embracing it, at the same time making sure that Fiji Rugby has an appropriate say in policy and key decisions around the team,’’ O’Connor said.

‘‘We intend to seek NZ$10 million in capital, and we’re confident that our proposal will attract strong interest from investors in Australia, New Zealand and around the world.

‘‘Ideally, we’d like Fijian investors also, but we’re looking for either a single investor, or at most three or four entities to back our team’’.

FRU chairman Conway Beg described it as a ‘‘transformational opportunity for Fiji Rugby’’.

Beg said once the FRU had attracted the capital it could enable them to bring their best players, who have been contracted to overseas clubs, to return to Fiji.

‘‘We can finally bring our best players home, keep our best local players and have them together in one place, training and playing together week in and week out, developing combinations, and having consistent skill development, strength and conditioning support and all of the usual facilities that other Super Rugby teams enjoy in the region,’’ Beg said.

‘‘We’re looking forward to bringing the Fijian style of rugby to Super Rugby in 2022. Fun. Flair. Energy. Unpredictability.’’

The FRU’s general manager commercial, Brian Thorburn will work with an appointed financial adviser to finalise the transaction by the end of March.

‘‘The prospect of the Fijian Drua playing in Super Rugby will be a dream come true, if we can meet the financial hurdles needed to sustain such a team,’’ O’Connor added. ‘‘Having the resources to offer competitive playing contracts to not only bring our best players home, but to keep our best local talent in Fiji is our key objective.

‘‘We want to field a team that is capable of reaching the finals in its first year and winning the competition within five years.’’

The business plan envisages playing at least six home games in Fiji each year, against teams such as the Chiefs, Crusaders, Blues, Reds and Brumbies.

The confidential business plan provided to New Zealand Rugby not only outlines the financial targets and the initial playing squad and coaching structure, but also details the complete administrative structures to support the team.

‘‘We want to field a team that is capable of reaching the finals in its first year.’’ FRU boss John O’Connor