SIMON O’CONNOR/Stuff
Taranaki Rugby chief executive Mike Sandle says areas where the money will be spent will align with the union’s strategic plan and will be signed off at board level. (file photo)
Planning has started at Taranaki Rugby to ensure its share of funds from the new Silver Lake deal will benefit the community game.
Taranaki will receive a portion of $20 million set aside for provincial unions, while $7.5m will go towards rugby clubs around the country. The funds available comes after the Project Future Investment proposal was approved on Thursday at a special general meeting.
With a majority 89 to one vote, it will see US technology investment firm Silver Lake partner with NZR and the New Zealand Rugby Players’ Association worth $200m.
It will provide investments into the game at all levels and support for the development of new capabilities.
Taranaki Rugby chief executive Mike Sandle said the union was “naturally pleased” the deal was passed. The task now is to think about where to direct the funds.
“There is significant planning to be completed around initiatives that will benefit our local rugby community,” he said.
“Once we have all the information, work will begin to action these plans.”
Areas where the money will be spent will align with the union’s strategic plan and will be signed off at board level, he said.
It’s unsure if the funds will draw down on New Zealand Rugby’s $300,000 loan given to the union after the loss of Yarrow Stadium in 2018.
There is no question the deal will be a boost to the union, which recorded a near $82,000 loss last financial year.
Sandle said the agreement promises an exciting and sustainable future for rugby by allowing the 26 provincial unions across the country to help grow and support participants from grassroots to the professional game.
A $60m contribution to a new Legacy Fund provides a long-term equity based for the development of the game at all levels, he said.
“It ensures that there is a significant amount of money for community rugby in New Zealand.”
– This content has been brought to you by Sport News Taranaki.
