The Hurricanes will head into the 2026 Super Rugby Pacific season under new ownership after the Wellington Rugby Football Union (WRFU) sold its 50% stake in the franchise.
Property developer Malcolm Gillies and Porirua-based Summit Capital have teamed up, with their joint venture NZ Sport Investment (NZSI) buying the shares.They become a key investor alongside New Zealand Rugby (NZR) and existing shareholders.
Gillies is a respected businessman in the region, where he is the principal of Gillies Group and part-owner of the New Zealand Campus of Innovation and Sport, the current training and operational base of the Hurricanes and the Wellington Phoenix.
The move comes after years of losing significant money, with the franchise set to post a loss of $2 million for the last financial year.
“NZSI is committed to providing the necessary leadership and resources to ensure the Canes remain highly competitive, but we have work to do to improve the financial performance of the organisation as well as support the growth of the Hurricanes and Poua programmes,” Gillies said.
Malcolm Gillies (left), who is part of a joint venture investing in the Hurricanes, at Trentham Racecourse with jockey Sam Collett. Photo / Photosport
NZR will become a minority investor in the Hurricanes and the WRFU, taking board seats across both organisations, but chairman David Kirk said the financial support would be temporary.
“As we have done previously with other provincial unions and Super Rugby clubs, NZR is providing temporary financial support in the form of loan facilities on acceptable terms and a capital injection we expect to recover, to help both organisations get on a firm financial footing again,” Kirk said.
“This is backed up with governance arrangements to support both organisations in their financial recovery.”
Outgoing chairman Iain Potter said the club’s financial situation had been challenging.
“The professional rugby environment and the economic climate generally remain challenging and the Hurricanes have not been immune,” said Potter.
“The last few years have been difficult for the Hurricanes financially, with operating losses up to and including the last financial year, where we are likely to post a loss of $2m.”
As part of the restructuring, outgoing general manager of rugby Tony Philp has been appointed interim chief executive to provide stability into the 2026 season, replacing Avan Lee, who announced last month he would stand down after 10 years at the helm.
