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New Zealand Rugby (NZR) are going to have seek 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 U.S.$10 million to $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 NZ$500 million ($331.35 million) for another five-yea

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