Super Rugby
Highlanders sell their Super Rugby licence
AAP
November 26, 2015
The Highlanders celebrate winning the Super Rugby Final
The Highlanders celebrate winning the Super Rugby Final© Hannah Peters/Getty Images

A combination of private investors and local provincial rugby unions has been granted a five-year licence to run Super Rugby defending champions the Highlanders.

A South Island private investor group, headed by Dunedin businessman Matthew Davey, will hold a 77% stake until 2020 while the Otago, Southland and North Otago unions hold a 13% share.

New Zealand Rugby will retain a 10% share for the first two years.

The combined group of investors will inject substantial capital into the Highlanders, NZR said in a statement on Friday.

The new venture is being underwritten by a guarantee from the Invercargill City Council in exchange for guaranteed Highlanders games in Invercargill.

NZR chief executive Steve Tew said the Highlanders were now well placed to face the future.

"The investor group brings considerable commercial experience, particularly in the sports consumer marketing area, and they have great knowledge of the business of rugby," he said.

The Highlanders are the fifth and final New Zealand franchise to have their licence sold, almost four years after NZR put out a call for potential bidders.

Tew said the process would ensure the foundation for professional rugby in New Zealand remained strong and better equipped to adapt to future challenges.

© AAP

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