Mark Alexander (r), SARU President during the South African Rugby Union Press Conference at San Flex Dining Room, Sandton Sun Johannesburg on 30 August 2024 ©Phakamisa Lensman/BackpagePix
The South African Rugby Union will push ahead with tomorrow’s vote to sell off 20 percent of their commercial rights, despite seven out of their 14 member unions not favouring the deal.
Last week the Daily Voice reported that SA Rugby are feeling confident they will get the 75 percent vote needed from member unions that will see US investors Ackerley Sports Group buy a piece of the former’s commercial rights for R1.3 billion.
However, various reports during the week have suggested SA Rugby gaan sukkel to get a majority of the unions to vote in their favour. After seven unions decided to skop teen’ie karre and wrote a letter to SA Rugby saying they have concerns over the deal and want tomorrow’s meeting postponed.
But a SA Rugby spokesperson tells the Daily Voice of going ahead: “Yes, still going ahead of course. It's the members who vote…”
In earlier statements of how the deal will benefit almal innie game in the long term SA Rugby president Mark Alexander said: “Together, we can build a stronger and more prosperous future for Saru. We remain committed to ensuring the long-term sustainability and stability of our organisation and this equity transaction represents a vital step in that direction.
“Most importantly, South African Rugby will not be selling any assets or the Springboks in any capacity to an equity partner. Instead, our commercial rights inclusive of the IP [intellectual property] will be licensed to a separate entity that will manage and develop a robust commercial programme.”
Related Topics: