The Fijian Drua could be part of the Super Rugby competition by 2022 as Fiji Rugby has been given the opportunity to field a team in the 2022 Super rugby competition.
This is subject to meeting a range of conditions set down by NZ Rugby. CEO John O’Connor says the prospect of the Fijian Drua playing in Super Rugby will be a dream come true if they meet the financial hurdles needed to sustain such a team.
O’Connor says offering competitive playing contracts to bring our best players and keep our local talent in Fiji is their key objective.
He adds they want to field a team that is capable of reaching the finals in the first year and winning the competition within 5 years.
The business plan requires playing at least six home games in Fiji each year, against blockbuster teams such as the Chiefs, Crusaders, Blues, Reds and Brumbies.
O’Connor says the confidential business plan provided to New Zealand Rugby Union not only outlines the financial targets and the initial playing squad but also details the complete administrative structures to support the team.
The new team will need to meet stringent financial conditions set down by New Zealand Rugby Union which includes the requirement to hold substantial cash assets and provide financial guarantees to ensure the team’s long term viability.
O’Connor says they have been aware for some time that they would need to raise capital to meet the financial hurdles and they want the team to be properly capitalised so that it can be in place for 20 years and more.
As a result of this, Fiji Rugby has decided to seek private capital and is offering a majority ownership of the entity which will own and operate the team.
FRU has also prepared a detailed Information Memorandum to outline the opportunity and attract Investors.
O’Connor says they intend to seek NZ$10 million in capital and they are confident that their proposal will attract strong interest from investors in Australia, New Zealand and around the world.
