There are concerns at provincial rugby level that voices aren't being heard on the proposed multi-million dollar deal with Silver Lake, as negotiations remain at a standstill.
The 26 unions want changes made to the deal that was recently approved by New Zealand Rugby (NZR) and the players association, something the national body is open to discussing.
It was hoped this year's annual general meeting (AGM) would be history-making, with the deal to change rugby in New Zealand finally ratified.
But as another year goes by, the Silver Lake saga drags on.
"Sure, it's taken a little bit longer than we'd hoped," NZR chief executive Mark Robinson says. "That comes with frustration."
A year ago it was the NZR Players Association that stalled the process. Now it's the 26 provincial unions.
Newshub understands they want more from Silver Lake - with any cap on the potential revenue they earn removed.
"New Zealand Rugby underestimated the power of the players association in their negotiations, and they've underestimated the provincial unions," says Heartland unions chair Craig Calder.
Calder was a late withdrawal from Thursday's AGM with illness, but is urging their concerns to be taken seriously.
NZR, though, don't consider the provincial unions' demands to be unreasonable.
"It's like any other conversation about making major change," Robinson added. "They're certainly articulating some points they think are fair and reasonable."
The deal at the moment would see $200 million invested into a commercial entity that will control NZR's revenue-generating assets - and Calder just wanted to be part of it.
"Don't forget us, we need a voice," Calder said. "We need a voice at the table, we need a voice everywhere - and we're screaming at the moment."
NZR finished the last year with a profit of $5.5 million, but Robinson continues to stress the importance of a deal with Silver Lake.
"We are losing momentum and opportunity the longer we take," Robinson said.
"This should have been a champagne day," Calder added. "Instead, it's a flat beer day."
Both parties hope an agreement can be finally reached by a special general meeting in June.
Hopefully the champagne's already on ice for that.
