Ackerley Sports Group LLC is planning a fresh bid for the Springboks' commercial rights after its initial offer was rejected. The group aims to create a strategic value-creation plan that addresses the financial challenges faced by SA Rugby.
Ackerley Sports Group LLC will pursue a new deal for the commercial rights to the world champion Springboks after an initial bid failed. SA Rugby is at risk of financial collapse unless it bolsters its revenue by emulating rivals such as New Zealand’s All Blacks, which has concluded a private equity deal. That was weeks after its $75 million – R1.
4 billion at current exchange rates – bid for a 20% stake in an SA Rugby commercial rights company and effective control of its board failed to win support from the South African group’s member unions. “ASG remains confident that its strategic value-creation plan should and will be part of any new proposal,” Chris and Ted Ackerley, the brothers who founded ASG, said in a statement on Monday. Ackerley wants to ensure that “any future plan is both effective and takes into account the needs of the member unions,” they said. Prior to the vote on the ASG proposal, unions linked to South Africa’s richest men objected to it, the nation’s sports minister called for a postponement to the decision and local newspapers reported that a rival bid was being prepared. “This vote derailed the efforts that we have made to globalize and commercialise the Springboks,” ASG said. “Furthermore, and importantly, this result has placed SARU back into financial peril,” it said, referring to the South African Rugby Union. ASG, which said it had offered to include 50% South African involvement in its final proposal, indicated that McKenzie supports its continued involvement
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