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Morgan casts Welnix net wide
Gareth Morgan hopes rugby and football can exploit sporting synergies after the Welnix consortium acquired a 12.5 per cent share in the Hurricanes.
When Gareth Morgan talks about sporting synergies, he's not just limiting the discussion to the Welnix consortium's year-old investment in the Wellington Phoenix, or its new minority shareholding in the Hurricanes.
The Wellington-based Super Rugby team on Monday became the first New Zealand franchise to announce a new partnership to take over its licence.
Ten months after the New Zealand Rugby Union put out the call for potential bidders, a new partnership to run the franchise was named.
Hurricanes Investments LP will be half-owned by the Wellington Rugby Football Union, and a quarter held by former Brierley Investments boss Paul Collins.
The remainder will be divvied up between interests associated with former Hurricanes board members Liz Dawson and Colin Oldfield, and Morgan's Welnix consortium.
Morgan sees no conflict in Welnix's 100 per cent ownership of A-League football team Wellington Phoenix, and its 12.5 per cent stake in the Hurricanes.
He's not ruling out casting an eye at including other sporting codes under the Welnix umbrella.
The Wellington Firebirds Twenty20 cricket franchise, not to mention netball's trans-Tasman league team, the Central Pulse, are possibilities.
"There's no limit necessarily," Morgan said on Monday.
"Just as long as we can see the synergies, and both codes and the Wellington region can benefit, then we would stand up for it."
Morgan says the Phoenix and the Hurricanes can complement each other in terms of sports medicine and sports science, as well in other areas.
"There can be synergies with respect to sponsorship, with respect to ticketing and season passes. There are a hell of a lot of things here on the table."
Welnix's motivations in buying into the Hurricanes bid weren't based around the consortium achieving spectacular returns for its investment, he added.
"You could not say the rate of return is the driver of this investment - that would be rather far-fetched," Morgan said.
"As long as it gives a reasonably positive return we can reinvest in the game, then we'd be pretty happy as investors."
NZN
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