A consortium of Eastern Cape business people has acquired a controlling interest in the Isuzu Southern Kings rugby franchise.
SA Rugby confirmed this on Friday saying that it had sold a 74% shareholding to a company known as 'The Greatest Rugby Company in the Whole Wide World'.
SA Rugby boss Jurie Roux says the Eastern Province Rugby Union has acquired the balance of 26% of the shares.
He says the deal was recently completed following the conclusion of an agreement on the commercial terms.
The owners of GRC are Eastern Cape businesspeople Loyiso Dotwana, Gary Markson, Rory Stear, Kenny Govender and Vuyo Zitumane.
SA Rugby took control of the Isuzu Southern Kings in November 2015 when the EPRU, to whom the operation of the franchise had been granted, ran into financial trouble.
