The Horowhenua Kapiti Rugby Football Union has purchased a three per cent share in the Hurricanes franchise.
The deal, announced today (Thur), will see the HKRFU (Horowhenua Kapiti Rugby Football Union) contribute about $100,000 to the Hurricanes' Investment Ltd Partnership. The share has been made available by Paul Collins.
Since the start-up of the Hurricanes Limited Partnership in November, a share has been left open by Collins in the event of provincial union interest in participating in the venture.
Hurricanes chairman, Brian Roche was pleased with the support the HKRFU had pledged to the Hurricanes.
AdvertisementAdvertise with NZME.
Roche said: ``This is an exciting step forward for the Hurricanes under the new licence structure. We have maintained a commitment to the provincial unions in Hurricanes territory that we want their involvement and that the door would remain open to that opportunity. To see one of our heartland unions make this move is exciting for the Hurricanes and rugby in Horowhenua Kapiti.''
John Mowbray, chairman of the HKRFU, said the union was delighted to invest in the new Hurricanes franchise.
"We have a longstanding, close affinity to the Hurricanes and can see many tangible benefits for our union in continuing this association. The recent Hurricanes versus Crusaders game in Levin is just one example. The Board of the HKRFU, in making the decision to invest, has put significant weight on these benefits ahead of any possible financial return which may or may not occur over the next eight years of the franchise license.''
Hurricanes chief executive, James Te Puni said: "The strengthened relationship with Horowhenua Kapiti is more good news following Kapiti boy Dane Coles committing to the Hurricanes until 2016. The presence of the Hurricanes in the local community and the 5000 people at the recent game in Levin reflects the strong links between the people of Horowhenua Kapiti and the Hurricanes.''