Massive cash injection coming for Saru?

Saru President Mark Alexander stresses the need for reserve funds to protect South African rugby from future financial crises.

The South African Rugby Union must develop robust reserve funds to sustain the organisation for 18 months in the face of potential crises similar to the Covid-19 pandemic.Saru president Mark Alexander is optimistic about finalising an equity deal with AmericanThis deal is expected to provide a vital cash injection, which Alexander insists should be allocated towards creating a reserve fund to safeguard Saru from future financial disruptions.

“We are fortunate in that we don’t owe anyone money, but our lack of cash reserves is a major concern. What if only the war in Ukraine circles out and we can’t play for a year?” Alexander remarked.Alexander proposed placing the reserve fund in a trust to ensure it protects provincial interests. This trust should be exclusively for crisis management and not used for other purposes.

The pandemic was managed only through a special savings plan, which saw all stakeholders agreeing to drastic cuts, including salaries. Additionally, South African rugby stands to benefit from tours involving the All Blacks and the Springboks in the coming years.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

TheSAnews /  🏆 25. in ZA

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

SARU president defends transformation amid media criticismSA Rugby celebrates significant progress in its Strategic Transformation Development Plan 2030, fostering diversity, inclusion, and success.
Read more »

Saru report: Springboks’ diversity efforts critically lackingSaru's audit report criticises South African rugby's transformation progress, highlighting significant gaps in meeting diversity targets.
Read more »

Saru report exposes lack of transformation in SpringboksSaru report exposes lack of transformation in Springboks
Read more »

NFF President: I'd Force Motsepe To Return As CAF PresidentNFF President: I'd Force Motsepe To Return As CAF President
Read more »

Biden, Kenya's Ruto pledge protect democracy in Africa and beyond - SABC NewsUS President Joe Biden welcomed Kenyan President William Ruto to the White House on Thursday…
Read more »

Biden welcomes Kenya's Ruto to White House with investments, promises - SABC NewsUS President Joe Biden welcomed Kenyan President William Ruto to the White House on Thursday
Read more »