NZ RUGBY SELLS SHARES IN BLUES TO LOCAL BUSINESS CONSORTIUM

The positive momentum for the Blues continues with the announcement that a consortium of eminent New Zealand business people will take a significant shareholding in the organisation.

The Better Blues Company Limited will purchase the 40 per cent holding in the Blues which was held by New Zealand Rugby (NZR) who bought back the shareholding from the previous private owners three years ago.

The remaining 60 percent has been shared since 2013 between the provincial unions of Auckland, Northland and North Harbour.

Blues chairman Don Mackinnon said the organisation was thrilled with the new investment, with a few minor transactional processes to be completed in the new year.

“The Blues are delighted to have attracted such a respected group of investors who include some of the leading business people in this country,” said Mr Mackinnon.

“Their decision to make such a significant investment in the club shows the progress we have made on and off the field and the confidence in the direction in which we are heading. This is further reason to be excited for the future of this club.”

Mr MacKinnon said the organisation was indebted to New Zealand Rugby for their support over the past three years.

NZR General Manager Professional Rugby & Performance Chris Lendrum welcomed the Better Blues group’s investment.

“It’s fantastic to see a group of investors with a shared passion for the Blues, and for rugby in the wider region, getting involved in Super Rugby.

“NZR has been happy to play a custodian role over the past three years, but our intention was always to bring in private equity partners to take the club forward. I’d like to acknowledge the efforts of our appointed Blues Directors Richard Dellabarca, Sam Lotu-Iiga and John Hart who have put in a huge amount of time and effort to what has been a thorough and professional process.”

Better Blues spokesperson John Hart said the new investors comprised a group of 12 like-minded people, and had been formed specifically to make this investment in the Blues and in doing so, to support the direction and the growth of the club, as well as the three provincial unions in the region - Auckland, North Harbour and Northland.

Hart said all members of the group have been involved in rugby and the wider community within the region, and they were excited about the strategic direction and the role the Blues organisation can play both on and off the field.

“The Blues is an organisation which is now populated by excellent people under the leadership of CEO Andrew Hore. We see our role as providing stability, support and continuity to the existing Board and management.

“We look forward, as long-term investors, to working with the Blues Board and management alongside our fellow provincial union shareholders Auckland, North Harbour and Northland, and doing all we can in supporting the growth of rugby in the region.”

Mr Mackinnon said his Board believes the energy at the club and the new investment signals exciting times for the Blues organisation.