South African’s top four franchises have reportedly asked SA Rugby for clarity over a potential private equity deal with Seattle-based Ackerley Sports Group (ASG).
According to a report by News24, the Bulls, Lions, Stormers and Sharks have penned a collective letter to SA Rugby expressing concern over the deal with the shelf company.
ASG – which was formally introduced in early December – posted a media release last week announcing that it would be seeking investment into SA Rugby “subject to further negotiations and final approval by the constituent members of [SA Rugby]”.
The company is an expansion of family-owned investment firm named Ackerley Partners, who have stakes in several Seattle-based sporting franchises, including MLR’s Seattle Seawolves. It recently purchased a minority stake in English football team Leeds United.
SA Rugby were previously reported to be in talks with Luxembourg-based investment firm CVC Partners over a private equity deal, which holds a stake in the Six Nations.
However, negotiations over an investment reportedly reached a stalemate, leading SA Rugby to turn to ASG.
SA Rugby president Mark Alexander told News24 that the governing body will be organising several workshops with the member unions with the goal of reaching approval by May 2024.
Photo: Ashley Vlotman/Gallo Images
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Src: sarugbymag.co.za
