SA Rugby will reportedly move forward with Friday’s vote on a proposed equity deal with Ackerley Sports Group (ASG), despite opposition from its unions.
According to a News24 article, a letter signed by eight unions, including the Vodacom Bulls, Sharks, Lions, and Griquas, declared their intent to reject the R1.3 billion deal, citing concerns over transparency, governance and economic feasibility.
Given the deal, which offers ASG a 20% stake in SARU’s commercial arm, requires a 75% majority, it seems unlikely to pass.
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It is understood the letter also criticised the hefty finder’s fee attached to the deal, initially pegged at R135 million, and highlighted the lack of proof of funds from ASG.
The dissenting unions have suggested an alternative proposal, emphasising local investors, improved payment terms and no commission fees. They also opposed SARU’s efforts to centralise lucrative Test match hosting rights, which unions see as critical revenue streams.
Despite the apparent lack of support, SARU confirmed the vote would proceed, citing procedural obligations.
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