New Zealand Rugby has posted its first profit in four years with the announcement Thursday of a NZ$5.5 million (US$3.6 million) surplus for 2021.
The positive result came despite Covid-19 forcing a postponement of the Women’s World Cup, which was to be held in New Zealand, and the Rugby Championship Tests being moved to Australia because of border restrictions and lockdowns.
Revenue was up NZ$51 million to NZ$189 million in 2021, primarily driven by increases in broadcasting revenue and sponsorship and licensing.
“A key takeaway from the last 12 months was gaining certainty around our professional competitions,” Mitchell said.
“This certainty creates a framework for driving commercial revenue and value for our stakeholders.”
The deal would see Silver Lake take a five per cent stake in NZR’s commercial assets but it needs to be first ratified by the provincial unions, which have asked for more time to evaluate the proposal.