Crusaders licence sold
Wellington - Super rugby's most successful team, the Crusaders, will be run by a consortium of provincial unions from next year as the New Zealand Rugby Union continues the partial privatization of its clubs.
The license to operate the Crusaders will be taken up from January 1 by the Crusaders Limited Partnership, a consortium representing the provinces Canterbury, Tasman, South Canterbury, Mid Canterbury, Buller and West Coast.
Mining investor Brent Francis will also inject capital into the club and will take one of six director's positions on a new board.
The allocation of the Crusaders licence follows the New Zealand union's move to award a license to operate the Hurricanes to the Wellington Rugby Union and a consortium of businessmen.