There has been some overseas interest in holding a New Zealand Super Rugby licence but the provincial unions will still play a key role in the franchises, despite an attempted shake-up of the system.
Tonight is the deadline the New Zealand Rugby Union have given for expressions of interest in holding a licence in the Blues, Chiefs, Hurricanes and Crusaders, as the national body seeks an injection of capital into the model it admits is broken in its current form.
The holders will have the ability to market and select their franchise teams, however, the players and coaches will still be centrally contracted by the NZRU, who will also look after the Highlanders.
It is understood offers haven't been coming in as the NZRU would have liked. There is some foreign interest but that is likely to be in the form of a consortium with a provincial union.
Taranaki have already indicated their interest and it's understood Auckland are interested in holding the Blues' licence and Canterbury the Crusaders'.
But in effect, not a lot will change if that is the case. The national body will receive a cash injection but the unions, and by extension the NZRU, will still be at risk if any consortium turns sour.
Owen Glenn, the wealthy Kiwi entrepreneur who recently bought a 50 per cent share in the Warriors, was forthright in his views on the new model.
"It was a bad idea,'' Glenn told the Herald on Sunday. ``It was a hollow gesture offering the investment in the franchises because no authority, no power goes with it.
"[They are saying] `you put the money in and can call them your own but we choose the players, coaches and games'. If you've got the capital to do all that, then great. But they're broke and, in my opinion, they've been mismanaged at all levels. As long as the Government keeps bailing them out, they're not going to get any better. That has got to stop.''
NZRU chief executive Steve Tew said a fortnight ago there had been no formal expressions of interest following their announcement in December, "[but] there is no doubt there is activity out there on options. Whether that turns into concrete, compliant and compelling proposals is yet to be seen, but there is activity and it's encouraging.
"There has been some interest from overseas but the majority of stuff that is visible to us is domestically based, but there's no reason why there wouldn't be a combination in any case. You can imagine a consortium that might involve provincial unions having some overseas parties who are interested being part of that consortium.''
The Taranaki offer is unlikely to be successful in its current form as they seek to create a new Super Rugby team to be based in New Plymouth.
They would have a better chance of acquiring the Hurricanes, something Tew has indicated he is open to, but Taranaki chairman Lindsay Thomson has told media: "We're not looking to take the Hurricanes out of Wellington, that's not our preference at all.''