Springboks
South African Rugby will hold a special general council meeting on 17 October to take a decision on its commercial future after a private investor said it wanted to take a 20% stake in a new company holding SARU’s commercial rights.
In a statement on Friday, SARU said the 14 full member unions will be given the opportunity to share their views on the proposal by the Ackerley Sports Group (ASG), first announced in December last year.
SARU CEO, Riaan Oberholzer, said the proposal requires the support of 75 percent of the voting membership, and if approved, it will trigger the conclusion of an agreement for a private equity company to invest into a newly established company.
“The game’s rugby affairs – such as the management, coaching, contracting and selection of all national teams as well as competition management – will continue to be the responsibility of SARU.
“Private investors will take up a 20 percent stake in an SA Rugby commercial rights company, which will manage and be responsible for the sponsorship, broadcasting, eventing, branding and licensing aspects of the sport,” Oberholzer said.
SA Rugby said the special general council meeting is the culmination of months of intense work behind the scenes since the Ackerley Sports Group (ASG) were chosen as the preferred bidder.
“This is a watershed moment for rugby in South Africa as we attempt to ‘globalise’ the Springbok brand in the way that our peers in New Zealand have.
“Private investment will bring financial security as well as the capital investment and global experience and networks to enhance how we communicate, how we do things and how we interact with our stakeholders.”
“Private investment has taken place in several of our member unions and is commonplace in global sport,” said Oberholzer.
