US equity firm finally takes stake in New Zealand's All Blacks

US private equity firm Silver Lake secured a NZ$200 million (US $134 million) stake in the famed All Blacks on Thursday, after New Zealand Rugby (NZR) overwhelmingly endorsed a contentious deal after years of wrangling.

The 89-to-one vote ended a heated two-year negotiation that pitted rugby bosses against the players' association and provincial unions, amid concern about selling off part of the country's culture.

Rugby is more than just a game in New Zealand and is seen as an integral part of the social fabric.

The men's national team, the All Blacks are regarded as national heroes.

The side has a winning Test record of more than 77 percent and having won three of the nine Rugby World Cups, is one of the most successful teams in world sport.

It was a "monumental moment in the history of rugby in New Zealand," NZR chairperson Stewart Mitchell said announcing the deal.

"It has taken us some time to reach this point and that is because our members care so deeply about our game, our communities, and our people."

Right up until the vote, closed-door meetings were going on as New Zealand's 26 provincial unions sought assurances they would not be sidelined and there would be benefits for the game at the grassroots level.

The cultural sensitivity was a point acknowledged by Silver Lake managing director Stephen Evans as he outlined plans for the commercial arrangement with NZR.

"Digital technologies are changing sports and media, providing a lot of opportunities for rugby, and we are ready to help go after them while respecting the values and traditions of the game in New Zealand," he said.

The deal sees Silver Lake, a fund manager specialising in private equity investments and whose growing stable of sports interests already includes