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In page Hurricanes (rugby union):

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Whilst the NZRU retains ownership of the team, as well as control of the contracts of the players and head coach, the licensee is responsible for overseeing day-to-day operations. Hurricanes' Investment Ltd Partnership is a joint venture between the Wellington Rugby Football Union owning 50 per cent of shares with the remaining 50 per cent held by a consortium of private investors, led by noted economist and author Gareth Morgan.[1]