The Springbok brand has “outgrown the South African market,” prompting SA Rugby’s decision to close a R1.3-billion equity partnership with US investment firm Ackerley.
Speaking to Sunday newspaper Rapport, SARU CEO Rian Oberholzer highlighted that the Boks should now be viewed as a “dollar brand” after winning two Rugby World Cups.
“One must now take one’s product overseas,” said Oberholzer. “They [Ackerley] need to establish our brand overseas.”
The partnership will also help SARU build a reserve fund, which is currently non-existent. Oberholzer stressed the importance of finalising the deal by the end of September and securing approval from the 15 unions.
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Ackerley will acquire a 20% commercial stake in SA Rugby, and an international jersey sponsorship is already in place.
Oberholzer pointed out the disparity between South Africa’s and other nations’ commercial strength. “South Africa is doing something wrong,” he said. “The Boks are at $3 million (R53 million), while the English get 9.5 million pounds (R210m).”
He credited Rassie Erasmus for enhancing the Springbok brand but noted that South Africa needs to shift focus to international sponsorship. “We have to look at dollars. We need to get our brand out of the country,” he concluded.
Photo: @Springboks/Twitter
The post SA Rugby targets foreign sponsor appeared first on SA Rugby magazine.
Src: sarugbymag.co.za
