@bren Ong: NZRU is a business, but shouldn't remain so

My analysis of NZRU as a business - IMO there is a lack of transparency as to how these guys manage 'our' money. They are meant to make operating losses of $16m last with expenses of ~$49m; what they are trying to tell us is that they don't make much outside of the Super 14 last (revenue of $33m), and trickle very little to grassroot rugby.

The thing is, they declare $50m from TV rights and $20m for the jersey annually as revenues as well - I think they have grossly understated the losses from 'financial activities' of $4.2m. It just doesn't compute.

Cash reserve in 2009 totalled $47m - when money from Adidas alone should tally up to ~$100m. They either pay themselves a heck of a lot, and are losing money 'investing' somewhere, which the details at this juncture is not public knowledge.

My point? I revise my stance on All blacks having to play in NZ. They should be allowed to play overseas. NZRU is failing to pretend as a coin mint, and it is not the players that should be nitpicked on and having to sacrifice a tremendous pecuniary opportunity costs to loop back revenues for the Union.