Whether you fear them, admire them, or detest them, most agree the New Zealand All Blacks are standard bearers for excellence in world sport. And the iconic team may just have set a new standard with its latest broadcast rights deal.

Sky New Zealand, the dominant pay TV provider across the Tasman which is listed on both the ASX and New Zealand's stock exchange, announced on Monday morning it had extended its rights deal with rugby's governing body in the country from 2021 to 2025. It comes as excitement builds over the Rugby World Cup in Japan with the tournament entering its knockout phase following a thrilling victory by the host nation late on Sunday.

The price paid by Sky was not disclosed but the company described the deal as "revolutionary" in its market announcement and the outlay as a "record investment". New Zealand media reports have thrown around a figure of $NZ400 million ($372.7 million). Sky has secured rights to all of the All Blacks test matches in New Zealand as well as the Super Rugby tournament and other provincial games over the five-year period.

Easily the most interesting aspect of the announcement though was the revelation the New Zealand Rugby Union, which controls the All Blacks, emerged from the negotiations with a 5 per cent stake in Sky.  Shares in the broadcaster surged by as much as 17 per cent on Monday on the news, valuing that stake above $NZ20 million ($18 million).