American investment group Ackerley Sports Group (ASG) has reportedly renewed its efforts to invest in SA Rugby (SARU) by working with a local consortium.
According to IOL Sport, ASG is now open to collaboration with the group that includes billionaire Johann Rupert, Sharks controlling owner Marco Masotti and Stormers owner Johan le Roux.
ASG, whose initial $75 million (R1.3 billion) bid was rejected last year by SARU’s general council, confirmed on Monday that they remain committed to securing a deal.
“In the coming month, ASG will continue to participate in SARU’s process to secure a world-class financial syndicate by deepening and expanding its own team,” ASG owners Chris and Ted Ackerley reportedly said in a statement.
“ASG intends to engage with any approved South African consortium and will work with a professional adviser to ensure any future plan is effective and meets the needs of the member unions.”
ASG highlighted its extensive engagement with SARU leadership, franchise representatives, and Sports Minister Gayton McKenzie during negotiations.
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“During the exclusive negotiation period, ASG met with all the member franchises, SARU leadership, and the Minister of Sports to present the merits and strength of the ASG approach,” their statement read.
“This resulted in adjusted deal terms to ensure alignment, which largely reached a consensus in a highly detailed Framework Agreement that SARU and ASG felt reflected both the spirit and economic interest of all parties.
“Our team has worked diligently and transparently with the Saru team – leadership and members – to secure an investment partnership to hold all current and future revenue-generating assets of the Springboks and SARU.”
Photo: Johan Orton/Gallo Images
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