US private equity firm Silver Lake.

New Zealand Rugby approves Silver Lake's deal

The vote by the 26 provincial unions and the Māori Rugby Board was done by voice at the annual general meeting in Wellington this morning. There were no dissenters.

The deal would be worth $387.5 million to New Zealand Rugby (NZR). Documents released for the AGM outlined that $39m of the sale price will be distributed to stakeholders such as provincial unions and a legacy fund will be established to ensure the sustainability of rugby at all levels.

However the deal is not complete as it requires sign off from the New Zealand Rugby Players Association (NZRPA).