Cam Roigard of the Hurricanes. Photo: Elias Rodriguez / www.photosport.nz
The Hurricanes will start the 2026 Super Rugby Pacific season with a new ownership structure as the Wellington Rugby Football Union (WRFU) sells its 50 percent stake.
The WRFU's sale of their shares in the Hurricanes is part of securing the financial sustainability of the Wellington Union, which has posted $1m-plus losses in the past two seasons.
NZ Sport Investment Limited (NZSI) has acquired WRFU's 50 percent shareholding, with the support of New Zealand Rugby and the other existing shareholders.
WRFU Chair Phil Holden said selling its shares in the Hurricanes was necessary to recapitalise the union.
NZSI is a joint venture between Malcolm Gillies and Summit Capital Limited. Gillies is principal of Gillies Group and is part owner of NZCIS, and the current training and operational base of the Hurricanes.
Gillies will become chair of the Hurricanes. John Mallon, director of Summit Capital, has also joined the Board, along with Peter Thomas, chief executive of Gillies Group Facilities Management.
New Zealand Rugby (NZR) will become a minority investor in the Hurricanes as part of a re-financing package of both the Hurricanes and WRFU.
"The professional rugby environment and the economic climate generally, remains challenging and the Hurricanes have not been immune", said outgoing Hurricanes chair, Iain Potter.
"The last few years have been difficult for the Hurricanes financially, with operating losses up to and including the last financial year, where we are likely to post a loss of $2 million."
Gillies said NZSI was committed to ensuring the Hurricanes and Poua remain highly competitive but work also needed to be done to improve the financial performance of the organisation.
Tony Philp, the outgoing general manager of the Hurricanes, has been appointed as interim Hurricanes chief executive.
NZR chair David Kirk said the national body was providing temporary financial support as it had done before with other provincial unions and Super Rugby clubs.
"...In the form of loan facilities on acceptable terms and a capital injection we expect to recover, to help both organisations get on a firm financial footing again. This is backed up with governance arrangements to support both organisations in their financial recovery," Kirk said.
Holden said the Union had appreciated the support of NZR over the last few months.
The WFRU would retain a seat on the Hurricanes board, to ensure strategic alignment between the two bodies.
NZR will appoint board members to both the Hurricanes and the WRFU.
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