-
Springboks Rugby team
It’s back to square one for the South African Rugby Union (SARU) in its search for an investor in its Commercial Rights Company.
The President’s Council, who met in Cape Town on Friday, rejected an offer by American Equity Company, Ackerley Sports Group, of approximately R1.3 billion for a 20% stake in the Commercial Company.
The proposal required a 75% yes vote for it to be approved, but 7 of the 13 member unions with voting rights, opposed it. However, the Ackerley Sports Group has an exclusivity period until the end of the year to make a revised offer, should it so wish.
Statement: SARU’s members on Friday rejected a proposal to accept a potential private equity investment in the sport’s commercial rights – more here:
— Springboks (@Springboks) December 6, 2024
