SA Rugby has defended its proposed equity deal with the Ackerley Sports Group (ASG), describing the R1.4 billion investment as vital for the sport’s sustainability in South Africa.
The deal would grant ASG a 20% stake in SA Rugby’s commercial arm but requires a 75% majority vote from South Africa’s 13 rugby unions to pass.
Speaking to Parliament’s Portfolio Committee on Sports, Arts and Culture on Wednesday, SARU president Mark Alexander emphasised that the deal was not for personal gain but to secure rugby’s future amid economic challenges.
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News24 reports that alternative investment offers, including one involving local tycoons Johann Rupert and Patrice Motsepe, were dismissed due to an exclusivity agreement with ASG.
Alexander admitted uncertainty over the outcome of Friday’s vote in Cape Town, with just four opposing votes sufficient to block the deal.
The committee also grilled SARU on former CEO Jurie Roux’s continued consultancy role despite his court conviction for misappropriating R37 million during his tenure at Stellenbosch University.
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