New Zealand Rugby Union Sponsorship Deals To Boost Spending
Embattled provincial unions "may be in for a financial leg-up from the New Zealand Rugby Union next year on the back of a better-than-budgeted profit," according to Toby Robson of the DOMINION POST. It has been a tough few years for the country's unions, with "spiralling player wage bills, falling gates and a lean sponsorship market cutting into the coffers." However, NZRU CEO Steve Tew "has indicated help could be at hand on the back of big int'l deals with AIG and adidas," both in foreign currency and hedged at favorable rates. Tew said, "We are going to have a better-than-budgeted profit, which we'll announce in the new year and not just courtesy of AIG, but other good work that's been done around test matches and other things. We've upped the ante in terms of our global commercial reach with the AIG deal and that's locked and loaded a very significant portion of our income right through to 2018" (DOMINION POST, 12/18).