All Blacks to sell stake

WELLINGTON. — New Zealand Rugby backed a “revolutionary” plan to sell a stake in the All Blacks to US investors yesterday. 

They are ignoring opposition from top players who fear the deal will sully rugby’s most storied team. The NZR’s provincial unions unanimously backed the deal with California-based Silver Lake Partners at its annual general meeting in Wellington, with chief executive Mark Robinson calling it a one-off chance to reset the cash-strapped body’s finances. 

“We believe it is an exciting and truly transformational opportunity that can benefit the entire game for generations to come,” he said. But the proposal faces a potential veto from the Rugby Players Association —which represents the sport’s elite talent — some of whom believe the soul of their beloved All Blacks is being auctioned off. — AFP.