New Zealand Rugby feel they're well-placed financially - despite needing to take legal action against one of their major sponsors.

The national body's launched proceedings against petrochemical company INEOS for breaching a deal worth around $8 million a year.

NZR views INEOS' non-payment of the first instalment of 2025 as confirmation they've exited the six-year agreement early.

In response to further questions from Newstalk ZB - an NZR spokesperson says their financial position is strong - with cash reserves north of $170 million.

They says they've also already started the process of finding a replacement, and are confident there is global commercial interest in the All Blacks and their other teams.

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