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WELLINGTON: New Zealand Rugby (NZR) are going to have find a new major sponsor after AIG on Tuesday decided against renewing the current agreement when it ends next year.
The American insurance and financial services giant has sponsored NZR’s national teams since 2012 and signed a six-year renewal in 2016, with local media reporting the agreements were worth US$10 million to US$20 million a year.
The sponsorship, reportedly NZR’s second largest behind a multi-year contract with sportswear manufacturer adidas, was to end in late 2021.
NZR’s largest revenue stream comes from television agreements, with local subscription broadcaster Sky TV reportedly paying US$331.35 million for a
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