South Africa sports minister Gayton McKenzie has formally requested the postponement of Thursday’s SA Rugby general council meeting, where a pivotal vote will take place on the proposed private equity deal with US-based Ackerley Sports Group.
In an open letter to SA Rugby president Mark Alexander, minister McKenzie voiced his concerns over the deal, emphasising the need for more consultation and greater transparency.
Despite McKenzie’s request, SA Rugby signalled on Wednesday that the meeting will go ahead as scheduled.
MORE: SA Rugby fires back over equity deal concerns
The meeting will see SA Rugby’s 14 provincial unions vote on whether ASG will be allowed to acquire a 20% stake in SA Rugby’s commercial arm for R1.3 billion.
McKenzie, however, has raised doubts over the deal’s implications and called for a delay to allow for a fuller understanding of the specifics.
In his open letter, he stressed the importance of ensuring all stakeholders, including himself, are fully informed.
“Dear President Alexander, I trust you and your team are well amid the enormous interest and scrutiny that is currently being brought to bear on the pending commercial decisions at SARU,” McKenzie writes.
“Let me start off by thanking you for our previous engagements and your assurance to me that the stake in the SARU Commercial Rights Company to Ackerley Sports Groupwill not exclude South Africans, and that indeed the deal has South Africans in it.
“I also appreciate your assurances that this deal is, in effect, not the sale of an important South African sporting asset to American owners, ultimately robbing the country of a say in a uniquely South African brand, the Springboks.
“This is one thread of the narrative that is circulating across the media, and it is leading to heightened concerns, which may not even be warranted.
“That being said, it is always important that levels of consultation and information sharing are adequate in matters such as these, especially when regarding matters of significant public interest.
“I would therefore like to humbly request that tomorrow’s scheduled meeting to decide on the way forward with your members be postponed so that I can be fully apprised of the particulars surrounding this proposed deal, or any deal that may be agreed to through your structures.
“I request this simply so that I will be in an informed position to answer the constant stream of questions that are being directed towards me, including from my colleagues in Parliament and Cabinet. I trust that my request would be favourably considered.”
McKenzie’s request comes after seven of SA Rugby’s 14 unions – including the Bulls, Sharks, Stormers and Lions – signed a letter on Monday opposing the deal and urging a delay of Thursday’s meeting.
Photo: Christiaan Kotze/BackpagePix
The post Sports minister makes equity deal plea appeared first on SA Rugby magazine.
Src: sarugbymag.co.za
