Analysis - Moana Pasifika's exit from Super Rugby has cast a spotlight on the sustainability and future of the competition.
The team was placed into liquidation in May and last week it was confirmed the club would not be involved in Super Rugby in 2027, after New Zealand Rugby rejected several rescue bids, saying none met the required commercial and financial thresholds.
While officials insist the competition is growing, Moana's collapse has prompted questions over whether the franchise is an isolated casualty, or is it a sign the tournament's underlying business model is under strain?
Super Rugby chief executive Jack Mesley is adamant the competition is in strong health.
"Across our key metrics and what we're looking to achieve, it's been another great year."
Mesley said Super Rugby was on track to post positive results for a third consecutive season, pointing to rising attendances, television audiences and digital engagement as evidence the competition is building momentum.
He said total season attendance across Super Rugby increased by 11.7 percent from 2025 - although those stats could be somewhat skewed by Christchurch's new Te Kaha Stadium selling out several games and attracting more than 73,000 fans during Super Round in April.
"This is third year in a row that we'll post attendance growth across the competition. I think we had 7 percent in 2024 and 6 percent in 2025."
Fehi Fineanganofo of the Hurricanes scores a try during the Super Rugby Pacific Final - Hurricanes v Chiefs at Hnry Stadium, Wellington.
According to figures released by Sky, the organisation's streaming platforms experienced audience growth of 16 percent this season.
Sky also reported an increase in its social media audiences, with a 13 percent growth in video views on Super Rugby Pacific content across the regular season.
"There's headroom, right? There's a lot of opportunity still out there. We know there's still empty seats that we want filled.
"We've got to continue to do what we're doing. I think everyone looks for a silver bullet. There's no silver bullets, but we're on a good trajectory. Things are improving in Super Rugby. We are growing. Our product continues to get better, so we're going to continue to focus on those things and continue to push for growth."
Yet those encouraging audience figures tell only part of the story. Behind the scenes, many within the game remain concerned about whether the competition's current financial model is sustainable.
Moana Pasifika are the second Super Rugby franchise to disappear in three seasons, after the Melbourne Rebels went bust at the end of 2024. Their demise has sharpened concerns about the financial health of the remaining clubs.
It is understood the five New Zealand sides - the Hurricanes, Chiefs, Highlanders, Crusaders and Blues - all lost money last year. The finances of the championship winning Hurricanes are expected to look rosier after this season's championship winning run, but clubs cannot rely on hosting the final to make ends meet.
Hurricanes chair Malcolm Gillies told NZME's Rugby Direct podcast in April that he did not think Super Rugby was sustainable in its current form.
"If it stays the way it is now, I fear for it. If there's change, then I believe we've got a product. But if it doesn't, I believe it's going to die. That's my honest opinion," Gillies said.
Gillies is not alone in that view. Other sources spoken to by RNZ believe structural change is inevitable, with one describing full privatisation of the competition as "inevitable".
Chiefs' Damian McKenzie during the Chiefs vs Highlanders, Super Rugby Pacific match at FMG Stadium, Hamilton.
