Patrice Motsepe saved the Blue Bulls rugby team from a dire financial situation. This was revealed by Alfons Meyer, chief executive of the Blue Bulls Company, after Motsepe’s African Rainbow Capital signed an agreement with Johann Rupert’s Remgro
This was revealed by Alfons Meyer, chief executive of the Blue Bulls Company , after Motsepe’s private equity firm, African Rainbow Capital , signed an agreement with Johann Rupert’s investment holding company, Remgro.The BBC was established in December 1997 to manage the Blue Bulls team professionally. However, for the past few years, the company has been battling to keep its head above water financially.
Meyer said Motsepe’s investment was a timely lifeline for the struggling company: “It was really important. It has been tough because rugby is no longer making money.” “We went to a lot of effort to ensure that the agreement became a reality, and we are proud to say that it was unanimously supported by union members.
“You can’t incur those kinds of expenses if you aren’t making money. The agreement could not have come at a better time,” he said, adding that the company would ensure that Loftus would rake in more income in future, in cooperation with its new partners.
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