Friday, November 27, 2015

Four private investors have purchased a 77% stake in the operating licence for the Highlanders.

They're not saying how much money the five-year deal is worth.

Dunedin businessman Matthew Davey is leading the investment charge.

He's the founder and chief executive of Ticket Direct.

The Highlanders is the last of all five Super Rugby teams to be managed by new operators.

A 13% stake remains with provincial rugby unions, and New Zealand Rugby holds a 10% share.

The deal is being underwritten by the Invercargill City Council, in exchange for guaranteed Southland games.

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