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NZR review

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  • BovidaeB Offline
    BovidaeB Offline
    Bovidae
    wrote on last edited by
    #754

    New Zealand Rugby’s (NZR) voting members have ratified Marise James to take up the final position on the NZR Board.

    The NZR Appointments and Remuneration Committee (ARP) put James forward for ratification at the beginning of March. Ratification required majority approval from NZR’s voting members, consisting of the 26 Provincial Unions and the NZ Māori Rugby Board. The ratification postal ballot closed at 5pm on Wednesday 12 March.

    https://www.nzrugby.co.nz/news-and-events/latest-news/final-member-of-new-zealand-rugby-board-ratified

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    • BovidaeB Offline
      BovidaeB Offline
      Bovidae
      wrote on last edited by Bovidae
      #755

      The AGM is today. Mark Robinson and David Kirk will front the media this afternoon.

      As reported previously, NZR made another loss in 2024.

      https://www.stuff.co.nz/sport/360681816/new-zealand-rugby-reports-195m-loss-2024-chief-executive-mark-robinson-says-model-unsustainable

      nzzpN 1 Reply Last reply
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      • BovidaeB Bovidae

        The AGM is today. Mark Robinson and David Kirk will front the media this afternoon.

        As reported previously, NZR made another loss in 2024.

        https://www.stuff.co.nz/sport/360681816/new-zealand-rugby-reports-195m-loss-2024-chief-executive-mark-robinson-says-model-unsustainable

        nzzpN Offline
        nzzpN Offline
        nzzp
        wrote on last edited by
        #756

        @Bovidae said in NZR review:

        As reported previously, NZR made another loss in 2024.

        Revenue up $17M, loss up from $8Mish to $19M.

        Something in there needs some serious attention. And silverlake may pick up 7.7% of revenue in a year or two, indefinitely.

        1 Reply Last reply
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        • BovidaeB Offline
          BovidaeB Offline
          Bovidae
          wrote on last edited by Duluth
          #757

          As the article says NZR spent more on Teams in Black and Admin, plus other expenses/losses. Totals in $000

          Screenshot 2025-05-08 at 14.08.59.png

          NZR-Performance-Report-2024.pdf

          taniwharugbyT K 2 Replies Last reply
          0
          • BovidaeB Bovidae

            As the article says NZR spent more on Teams in Black and Admin, plus other expenses/losses. Totals in $000

            Screenshot 2025-05-08 at 14.08.59.png

            NZR-Performance-Report-2024.pdf

            taniwharugbyT Offline
            taniwharugbyT Offline
            taniwharugby
            wrote on last edited by
            #758

            @Bovidae so $6m more on Admin and only $2m more on development... 😉

            Have to assume there is some crossover between Admin and Development anyway....

            1 Reply Last reply
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            • BovidaeB Bovidae

              As the article says NZR spent more on Teams in Black and Admin, plus other expenses/losses. Totals in $000

              Screenshot 2025-05-08 at 14.08.59.png

              NZR-Performance-Report-2024.pdf

              K Offline
              K Offline
              kev
              wrote on last edited by
              #759

              @Bovidae said in NZR review:

              As the article says NZR spent more on Teams in Black and Admin, plus other expenses/losses. Totals in $000

              Screenshot 2025-05-08 at 14.08.59.png

              NZR-Performance-Report-2024.pdf

              Why do they have an interest expense. I thought they had funds in reserve?

              ToddyT 1 Reply Last reply
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              • K kev

                @Bovidae said in NZR review:

                As the article says NZR spent more on Teams in Black and Admin, plus other expenses/losses. Totals in $000

                Screenshot 2025-05-08 at 14.08.59.png

                NZR-Performance-Report-2024.pdf

                Why do they have an interest expense. I thought they had funds in reserve?

                ToddyT Offline
                ToddyT Offline
                Toddy
                wrote on last edited by Toddy
                #760

                @kev said in NZR review:

                Why do they have an interest expense. I thought they had funds in reserve?

                Majority of that is Silverlake isn't it?

                K 1 Reply Last reply
                0
                • ToddyT Toddy

                  @kev said in NZR review:

                  Why do they have an interest expense. I thought they had funds in reserve?

                  Majority of that is Silverlake isn't it?

                  K Offline
                  K Offline
                  kev
                  wrote on last edited by kev
                  #761

                  @Toddy said in NZR review:

                  @kev said in NZR review:

                  Why do they have an interest expense. I thought they had funds in reserve?

                  Majority of that is Silverlake isn't it?

                  They had funds in reserve prior to Silverlake deal I thought. If anything the deal should have added to that pot.

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                  • ToddyT Offline
                    ToddyT Offline
                    Toddy
                    wrote on last edited by
                    #762

                    They have to make payments (4%??) to Silver Lake and currently those payments are interest payments due to the debt type of funding that was setup with Silver Lake. It would change (I think) if Silver Lake exercises it's option to take an equity position.

                    K 1 Reply Last reply
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                    • ToddyT Toddy

                      They have to make payments (4%??) to Silver Lake and currently those payments are interest payments due to the debt type of funding that was setup with Silver Lake. It would change (I think) if Silver Lake exercises it's option to take an equity position.

                      K Offline
                      K Offline
                      kev
                      wrote on last edited by
                      #763

                      @Toddy said in NZR review:

                      They have to make payments (4%??) to Silver Lake and currently those payments are interest payments due to the debt type of funding that was setup with Silver Lake. It would change (I think) if Silver Lake exercises its option to take an equity position.

                      Ok makes sense. But the Silver Lake deal is a dog. Didn’t realise they had that option. How long for? So NZRFU have to repay debt if option not exercised. What exactly have they done for this option so far? Amateur hour..

                      Chris B.C 1 Reply Last reply
                      1
                      • ToddyT Offline
                        ToddyT Offline
                        Toddy
                        wrote on last edited by
                        #764

                        I think if they don't exercise the deal then NZR would just keep paying the interest expense as it's a perpetual debt instrument. There's no paying it back. If the option is exercised then Silver Lake would take the slice of revenue and the $10.5m interest would stop and the $21m ish payments based on commercial revenue will start.

                        1 Reply Last reply
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                        • antipodeanA Offline
                          antipodeanA Offline
                          antipodean
                          wrote on last edited by
                          #765

                          I'm suitably impressed by the financial acumen of NZR to develop that sort of deal.

                          1 Reply Last reply
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                          • Windows97W Offline
                            Windows97W Offline
                            Windows97
                            wrote on last edited by
                            #766

                            So every year we pay silverlake ether $10.5M (if we make a loss) or $21M+ if we make a profit??

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                            • ToddyT Offline
                              ToddyT Offline
                              Toddy
                              wrote on last edited by
                              #767

                              I don't think so. It's the interest payments if they decide not to convert. It's the portion of commercial revenue, not profit, if they do decide to convert. One or the other.

                              K 1 Reply Last reply
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                              • K kev

                                @Toddy said in NZR review:

                                They have to make payments (4%??) to Silver Lake and currently those payments are interest payments due to the debt type of funding that was setup with Silver Lake. It would change (I think) if Silver Lake exercises its option to take an equity position.

                                Ok makes sense. But the Silver Lake deal is a dog. Didn’t realise they had that option. How long for? So NZRFU have to repay debt if option not exercised. What exactly have they done for this option so far? Amateur hour..

                                Chris B.C Offline
                                Chris B.C Offline
                                Chris B.
                                wrote on last edited by
                                #768

                                @kev said in NZR review:

                                @Toddy said in NZR review:

                                They have to make payments (4%??) to Silver Lake and currently those payments are interest payments due to the debt type of funding that was setup with Silver Lake. It would change (I think) if Silver Lake exercises its option to take an equity position.

                                Ok makes sense. But the Silver Lake deal is a dog. Didn’t realise they had that option. How long for? So NZRFU have to repay debt if option not exercised. What exactly have they done for this option so far? Amateur hour..

                                Probably updated the format of the player stats site.

                                I wondered if anyone (everyone) else thought it was as shit as I do - seems @Nepia and I are in complete agreement for once!

                                Enshitification at work!

                                BovidaeB 1 Reply Last reply
                                3
                                • Chris B.C Chris B.

                                  @kev said in NZR review:

                                  @Toddy said in NZR review:

                                  They have to make payments (4%??) to Silver Lake and currently those payments are interest payments due to the debt type of funding that was setup with Silver Lake. It would change (I think) if Silver Lake exercises its option to take an equity position.

                                  Ok makes sense. But the Silver Lake deal is a dog. Didn’t realise they had that option. How long for? So NZRFU have to repay debt if option not exercised. What exactly have they done for this option so far? Amateur hour..

                                  Probably updated the format of the player stats site.

                                  I wondered if anyone (everyone) else thought it was as shit as I do - seems @Nepia and I are in complete agreement for once!

                                  Enshitification at work!

                                  BovidaeB Offline
                                  BovidaeB Offline
                                  Bovidae
                                  wrote on last edited by
                                  #769

                                  @Chris-B said in NZR review:

                                  I wondered if anyone (everyone) else thought it was as shit as I do - seems @Nepia and I are in complete agreement for once!

                                  It looks shiny and new but is complete crap. With the old stats site you could easily find info. Now it just appears to be player bios. I was curious to know who is now the oldest living AB. That was an easy click before. Now, who the fuck knows!

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                                  • A Offline
                                    A Offline
                                    ARHS
                                    wrote on last edited by
                                    #770

                                    Brian Steele I believe.

                                    1 Reply Last reply
                                    1
                                    • ToddyT Toddy

                                      I don't think so. It's the interest payments if they decide not to convert. It's the portion of commercial revenue, not profit, if they do decide to convert. One or the other.

                                      K Offline
                                      K Offline
                                      kev
                                      wrote on last edited by
                                      #771

                                      @Toddy said in NZR review:

                                      I don't think so. It's the interest payments if they decide not to convert. It's the portion of commercial revenue, not profit, if they do decide to convert. One or the other.

                                      The key is they have the option so guaranteed minimum revenue and upside if things improve.

                                      What’s missing Is any news on what has happened post deal. Developing new revenue stream for any business is very difficult. Sports is a saturated market I would have thought.

                                      taniwharugbyT 1 Reply Last reply
                                      1
                                      • K kev

                                        @Toddy said in NZR review:

                                        I don't think so. It's the interest payments if they decide not to convert. It's the portion of commercial revenue, not profit, if they do decide to convert. One or the other.

                                        The key is they have the option so guaranteed minimum revenue and upside if things improve.

                                        What’s missing Is any news on what has happened post deal. Developing new revenue stream for any business is very difficult. Sports is a saturated market I would have thought.

                                        taniwharugbyT Offline
                                        taniwharugbyT Offline
                                        taniwharugby
                                        wrote on last edited by
                                        #772

                                        @kev said in NZR review:

                                        What’s missing Is any news on what has happened post deal.

                                        That's it isn't it, from the outside it appears theynhave done nothing for us, yet this deal was meant to open new doors and increase revenue

                                        M 1 Reply Last reply
                                        1
                                        • taniwharugbyT taniwharugby

                                          @kev said in NZR review:

                                          What’s missing Is any news on what has happened post deal.

                                          That's it isn't it, from the outside it appears theynhave done nothing for us, yet this deal was meant to open new doors and increase revenue

                                          M Offline
                                          M Offline
                                          Machpants
                                          wrote on last edited by
                                          #773

                                          @taniwharugby said in NZR review:

                                          @kev said in NZR review:

                                          What’s missing Is any news on what has happened post deal.

                                          That's it isn't it, from the outside it appears theynhave done nothing for us, yet this deal was meant to open new doors and increase revenue

                                          NZR+

                                          Which fuck all signed up to and now they put it all on YT etc anyway... Maybe young hip people want to watch that, but I want games and good analysis. Sky does one, only @Mauss and Squidge (cos I fin him funny YMMV) do the other

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