This is a piece on the NFL’s apporach to investments in franchises by private equity funds and the like. I compare this to the situation in South African rugby, with SARU having embarked on a process of seeking out a commercial partner and having engaged with private equity firms to this end. And I consider what might be learned from the NZR’s equity deal with Silver Lake. I look at the reasons for bringing these types of investors on board (and why this desire is reciprocated), the framework and rules for their involvement, and what a good deal can bring for rugby in South Africa.

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