New Zealand Rugby chief executive Mark Robinson. Photo / photosport.nz
OPINION
Nerves are high, and last minute trade-offs prevalent, as New Zealand rugby's 26 provincial unions prepare to cast the defining say on a $200 million private equity deal with US investment firm Silver Lake.
The Herald understands that earlier this week Auckland, New Zealand's largest provincial union, had concerns to the point its significant weight was likely to vote against the pitch to sell a 5.7 to 8.6 per cent stake in NZ Rugby's commercial rights.
Other unions such as Hawke's Bay were described as staunch in their position while Wellington, North Harbour and Northland have posed probing questions of the national body.
When the unions gather at New Zealand Rugby's Auckland headquarters on Thursday a 75 per cent threshold must be reached from the 90 votes for the fraught Silver Lake deal, first tabled 18 months ago, to progress.
Union votes are allocated based on how many secondary school and club teams each region boasts. Auckland, Wellington and Canterbury hold the balance of power with seven votes each – leaving NZ Rugby anxious about Auckland's opposition.
Bay of Plenty and Waikato have six votes each while the other nine NPC unions range from three to six. The 12 Heartland unions hold two votes each – the same number as the New Zealand Māori Board.
While the deal is expected to gain signoff, frustrations remain evident from some unions with the way in which NZ Rugby has carried out the consultation process.
The flow of information from NZ Rugby to the provinces was described as scant at best.
When the Players' Association and NZ Rugby eventually agreed on terms after a painstaking standoff, the provinces raised 15 points of clarification.
Only when NZ Rugby chairman Stewart Mitchell sent a letter to all unions on Monday night - three days before the pivotal vote - were most of these points explained.
Further frustrations exist that the Players' Association, through their prolonged collective employment negotiations, had 11 months' consultation while the provincial unions were given three weeks before the original Special General Meeting date was set.
Three months later, and behind the scenes NZ Rugby chairman Mitchell has been in full charm offensive mode in recent days. With the stakes so high he is understood to have flown from Christchurch to meet the Auckland board in an attempt to sway their wavering support last week.
That meeting, and Mitchell's letter on Monday night, is believed to have belatedly softened Auckland's angst.
Concerns conveyed by unions to the Herald include the Silver Lake deal, a new collective employment agreement with the players and the conditional governance review being bundled together for an all or nothing vote, leaving some provinces on the fence.
Some unions remain unsure whether the deal is the best that can be achieved for rugby in this country, believing long-term fish hooks lie with Silver Lake controlling a 85 per cent stake in a new entity called Global Rugby Opportunities, with suspicions the US firm will invest heavily in that space to maximise their return.
Maintaining NZ Rugby's 36.56 revenue share agreement with the players is another major gripe. On that front, there is a belief that too much money goes to the top end of the game. One analogy given was a marquee All Black earning more than the Southland union survives off.
The reshaped deal downgrades the legacy fund – a major selling point for the provincial unions to futureproof the grassroots game – with a reduction from $100 million to $60m. No funding will be spent from this pool within the first two years until the convertible note transfers into equity.
The Herald has also learned that former All Blacks captain Richie McCaw is expected to serve as the Players' Association representative on the interim Commercial Co board charged with overseeing the potential deal for the next six to nine months until a chairperson is appointed.
McCaw is expected to stay on as the Players' Association board representative beyond that initial period after being heavily involved during the consultation process.
During the depths of the drawn-out standoff between NZ Rugby and the Players' Association over the merits of the Silver Lake deal, McCaw publicly voiced his concerns about the then "take it or leave it" approach to suggest the original proposal scared him.
The Commercial Co board composition will include two representatives from Silver Lake, one Players' Association member, NZ Rugby chief executive Mark Robinson, two further NZR board members, the independent chair and two appointed members.
Should the Silver Lake deal progress, the 14 NPC provinces will each immediately receive a $1m cash injection. The 12 Heartland unions pocket $500,000 each; the Players' Association gets $5m, Māori rugby $2m while clubs are distributed $8m.
Vogel's and marmite. Crackers and cheese. Sausages and white bread. Gin and tonic. Rafa and French clay.
Nadal turns 36 on Friday. Thus, the need to treasure his every appearance, every nuanced quirk.
"I don't know what can happen in the near future with my career," Nadal said prior to his epic quarter-final victory over Novak Djokovic on Wednesday. "Being honest, every match that I play here, I don't know if it's going to be my last match here in Roland Garros. That's my situation now."
Nadal survived five sets – almost four-and-a-half hours – against 21-year-old Felix Auger-Aliassime, before summoning the fight to defeat Djokovic in another four-hour duel.
That tenaciousness has typified his career, carrying him to 21 Grand Slam titles – his last the Australian Open in January and a record 13 of those in Paris.
Nadal holds an astonishing 110-3 record at the French Open – two of those losses coming against Djokovic.
Before this tournament Dwayne Cleugh, a tennis aficionado mate, said $4.50 was 'crazy' odds for Nadal to push two Slams clear of the chasing greats.
My hefty $10 wager doesn't quite compare to the punter who laid down $11,000 on Nadal at $1.65 after he won the first set, but I can't be alone in willing the Spaniard on to another crown.
It might be somewhat alarmist to read too much into a warm up match but the Black Caps could hardly claim to be in form as they approach the first test at Lord's on Thursday.
Playing a County Select XI at Chelmsford, Essex, the Black Caps slumped to 9-5, 19-6 and 70-8 before reaching 148 in their second innings.
Kane Williamson, off the back of a horror run in the IPL and his lingering troublesome elbow, was dismissed for a duck. Will Young and Tom Blundell suffered the same fate while Devon Conway (5) and Colin de Grandhomme (2) also departed cheaply.
Daryl Mitchell, who is expected to replace the injured Henry Nicholls at No 5, was the only member of the top seven to make double figures after compiling 58 in the first innings.
Sure, it's only one innings but such returns do not inspire confidence.
Combined with Brendon McCullum's appointment as England coach and Trent Boult's absence, after he arrived in London on Tuesday following the IPL final, and there appears reason for concern.
Record: 8/15 ($11)
We have reached a momentous occasion. For the first time since this segment began, The Sauce is in the green. It's been a big effort to claw back from an 0-4 start but here we are, so let's continue the momentum. Last week's Crusaders 13+ and Waratahs +12.5 multi scraped in, despite the Crusaders' underwhelming performances against the Reds.
This week I fancy the Crusaders –7.5 and the Waratahs +14.5 multi that will get you $1.85.
Current coach? Yes. Steve Hansen and Sir Graham Henry probably outrank him but they have now largely sailed off into semi-retirement. Cricket's reach, particularly throughout India, will shine an intense spotlight on McCullum's English tenure.
•Send your questions to liam.napier@nzme.co.nz
Mike Thorpe argues the numbers suggest that they are.