A group of the country’s rugby power brokers, including billionaire Johann Rupert, is reportedly compiling an offer to rival SA Rugby’s proposed equity deal with US-based Ackerley Sports Group (ASG).
According to Sunday newspaper Rapport, Rupert, Marco Masotti, and Johan le Roux – each holding a stake in the Vodacom Bulls, Sharks, and DHL Stormers respectively – are said to back an alternative proposal.
A document outlining this plan will reportedly be presented to SARU on Monday, just days before its board is set to vote on the ASG deal.
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The ASG agreement would see the Americans acquire 20% of SARU’s commercial rights for R1.3 billion, but critics have raised concerns over its financial structure, hefty commissions, and the lack of guaranteed funds.
Former Springbok Schalk Burger senior, who represents smaller unions such as Boland, has voiced opposition, calling this a “watershed week for SA Rugby”.
The alternative proposal, led by local investors, matches ASG’s financial offer but eliminates commissions. It also calls for a financial institution to assess SARU’s needs.
With discontent spreading among unions, securing the required 75% majority vote for the ASG deal appears increasingly uncertain.
Photo: Andreas Rentz/Getty Images
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Src: sarugbymag.co.za
