There’s rich, then there’s Johann Rupert rich – the Stellenbosch-born business mogul is pursuing SA Rugby’s equity deal, which would give him 20% of the group’s commercial rights.

The 74-year-old billionaire, who faces competition from Ackerley Sports Group (ASG) and Altvest Capital, is already well versed in South African rugby with investments in the Sharks, Stormers and Bulls, suggesting that out of the three investors, the Rupert Group would be the most seamless takeover.

According to Forbes, Rupert (and family) has a net worth of R261.142 billion.

ASG had their chance

 SA Rugby granted ASG sole negotiation rights until January 1, but the American-based firm, who have investments in several sports, from golf to soccer, were unable to get a deal over the line.

According to reports, ASG haven’t backed out of the bidding – but one’s chances of landing the sale becomes much harder when the Rupert family comes to town.

Sports Minister Gayton McKenzie reported of Rupert’s interest, mentioning that the proposal was stronger than that of ASG’s, insinuating that they are leading the race for SA Rugby’s historic equity deal.

“I think the time has come for us to move on,” McKenzie reported.

“SA Rugby must find alternative sources of revenue and they must just kill this thing because it has caused a lot of unnecessary fighting, division, and strife.

“SA Rugby must think outside of the box, and I have faith in their leadership in terms of finding another alternative.

“I have seen another proposal, with my own eyes, from the Rupert group. It is better than the ASG proposal and I don’t think the Rupert group would bring a proposal and not bring it to SA Rugby.

“They must have given it, but I have seen the proposal. I said the guys must come to the table, and I’ve seen the proposals.

“Those are esteemed businesspeople who have access to SA Rugby and must have spoken to them. Guys must come together now because not even the unions are talking to each other.”

Who should SA Rugby choose?

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Src: TheSouthAfrican.com - https://rugga.co.za/springboks/south-africas-richest-man-to-reach-agreement-for-sa-rugby-equity-deal/