New Zealand Rugby has invited Forsyth Barr to discuss its proposal for a public flotation of part of its commercial revenues, after US private equity giant Silver Lake waived its right to block talks. However the union has sent David Kirk - who is chairman of both Forsyth Barr and the New Zealand Rugby Players Association - a lengthy explanation of why it does not believe its proposal met the objectives of its proposed sale. On Monday evening NZ Rugby chief executive Mark Robinson sent a lengthy response to Kirk, and later to provincial rugby unions, responding to the proposal. "Silver Lake have consented to waive their exclusivity agreement to the effect of enabling NZR to examine and understand the NZRPA/Forsyth Barr proposal," Robinson wrote, inviting Kirk for a meeting with its project steering group on Friday. "We understand Forsyth Barr are offering to fully underwrite the proposed valuation, is that a guaranteed position today?," Robinson asked.

Source: Otago Daily Times May 17, 2021 20:23 UTC