Springboks
The Springboks will not be sold as part of a commercial deal that SA Rugby is negotiating with a US-based sports company, Ackerley Sports Group.
SA Rugby said on Wednesday that ASG wants to acquire a shareholding in rugby's commercial activities.
In a statement, SA Rugby said emphatically it was not selling the Springboks, adding that "all national teams will retain their existing management and ownership models".
"As national institutions, the Springboks and SA Rugby are not transferable to private equity.
"This strategy is about harnessing our commercial rights in partnership with an organisation, creating a separate entity dedicated to elevating our commercial profile.
"The new commercial entity will remit an annual fee to cover all current operations of SA Rugby - from paying the Boks to providing funding to the unions," SA Rugby said.
According to the statement, ASG was "unanimously chosen" by SA Rugby members, including the franchise-owning unions, at their AGM in December, following presentations from another potential investor.
"ASG's offer primarily focuses on immediate financial gain and guaranteed income, with lower thresholds for contingency payments, presenting a straightforward proposal for a commercial partnership, which we believe could offer comprehensive advantages to our organisation.
"The ultimate decision will hinge on balancing the immediate financial requirements with the long-term strategic objectives of our rugby organisation".
Once a proposed "post-deal" structure is nearing finalisation it will be workshopped with member unions.
SA Rugby says it anticipates that a conclusive proposal will be presented to the members at the AGM scheduled for 30 May, for approval or rejection.
Update on SA Rugby's process of finding an equity partner - more here: https://t.co/Vrfnd2K5BC ???? pic.twitter.com/c0Q0RbxYKi
— Springboks (@Springboks) February 14, 2024
