Chris Kinraid: NZ Rugby Chief Financial Officer explains why they rejected bids to save Moana Pasifika

New Zealand Rugby's adamant there was no choice but to reject rescue plans for the financially-strapped Moana Pasifika. 

Moana is officially out of the 2027 Super Rugby season – although there is hope they will be back in the future. 

The franchise fizzles out, owing millions on a loan from the Government through Sport New Zealand. 

Chief financial officer Chris Kinraid told Mike Hosking they made all efforts to save Moana Pasifika, but in the end they had a pretty strict criteria. 

He says they were looking for proposals that had the cash to support the franchise and a sustainable and viable business plan, and both those criteria weren’t met.  

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Episode Transcript

Speaker 1 (00:00):
So more on the pacifica finished. As we mentioned before
the news, even if it was a decent idea, it
was badly executed, of course, and it's over. The zidre
of officially rejected a joint bid by the Simone and
Tongue and governments and anybody else as far as I
know who wanted to save them. Chris Kinraid is the
inzar's chief financial officer and is with us, Chris Morning,
Morning Light. How does this work at the in ZDR

(00:21):
who literally decides whether it's on or off?

Speaker 2 (00:25):
Was a group effort. We had a board subcommittee that
made a robust assessment of all the bids under some
strict criteria. So in the end management put up a
review of that criteria and we meet together with the
board and make a collective decision.

Speaker 1 (00:41):
Was it a mood from your point of view, looking
to save it or you couldn't have cared less?

Speaker 2 (00:47):
So we were definitely looking to save it, Mike. You know,
we originally had a deadline of May fifteenth of May
to conclude the decision, and we extended that multiple times
in all efforts to try and give the time for
the party to get the capital together and to complete
the business plan, So we made all if it's.

Speaker 1 (01:05):
Possible those people who had a crack, were they close
or not really? In your view?

Speaker 2 (01:11):
In the end, we had pretty strict criteria. Do you
have the cash I committed capital, and if you've got
a business plan which is sustainable and viable. In an instance,
both of those criteria weren't met, so I actually made it.
It sounds a bit harsh, but an easier to season
because we just didn't get the capital in the end.

Speaker 1 (01:29):
As do you have an observation? I mean, I'm very
critical of the whole exercise having in fat money in rugby.
God knows what the hell that's doing there. But was
this jury mandate from the start and always destined to fail?

Speaker 2 (01:41):
Now? I don't think so, Mike. You know I always
started with the best intentions, and a lot of parties
from the players to pacifica community ended our David to crack,
And I think, you know, people shouldn't be criticized for
giving something ago. If you don't try and stand up
a team or to try and stand up I guess
a movement for the right reasons, you know you'll never
achieve your goals. So I don't think everyone should be attacked,

(02:05):
I guess for having a crack at standing up the team.

Speaker 1 (02:07):
Yeah, I wouldn't mind that argument if it was using
your money, but it's not. It's using government money they
didn't have, which is a different story, isn't it.

Speaker 2 (02:15):
Well not in Malana and it's liquidated case right now.
That was largely private money, with some grant from World Rugby,
some support from sport end Z and private backers as well.
So in essence, you know, there's a little bit of
private money public money on the line off with the liquidation,
but broadly that was private money.

Speaker 1 (02:34):
From what you've learned out of this whole exercise, could
I start a team tomorrow and make it work? Or
is Rugby full or it needs to be a certain
way or model or whatever.

Speaker 2 (02:45):
It definitely needs to be a certain model and it
needs the right max of public and private support. Private
capitals is very critical with strong operators to run a
commercial operation accommodation, particularly in say a PACIFICA team with
a max of both is probably the most desirable. And
also having a commercial and business plan where you take
games that can actually drive a revenue stream and you've

(03:09):
got a massive connection with content and vans as most
critical part. So there's definitely a future there in one
of SCIFCO because a lot of those things can get
ticked over time with the right business case and commercial backing.

Speaker 1 (03:23):
Good insight. Chris appreciated very much. Chris Kinright, who is
the New Zealand Rugby Chief Financial Officer CFO.

Speaker 2 (03:29):
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