SA Rugby’s equity deal vote was scheduled to take place on Thursday, but will now be rescheduled to allow sports minister Gayton McKenzie time to fully brief government.
SA Rugby has postponed its planned Special General Meeting to consider a proposal to conclude a private equity investment in the sport’s commercial rights following a request byand Saru had called meeting where the unions would have voted on the proposed R1.3 billion equity deal with United States -based Ackerley Sports Group .
“We received the request from the minister this morning and we are happy to oblige, having shared the request with our member union presidents,” Alexander said. “We had previously briefed him on his appointment, but we understand his request for further assurance considering the newsworthiness of this proposal.”SA Rugby, the custodians of the Springboks, sent out an explainer about the proposed deal
on Tuesday after that letter was leaked. The meeting was set to go ahead despite the concerns of the Lions, Sharks, Blue Bulls, Western Province, Free State Cheetahs, Griquas and Boland, who undersigned the leaked letter.“We believe that the proposed partnership, along with our identified partner, offers an opportunity for organic growth rather than simply serving as a cash injection.
SA Rugby said in a statement a new date for the SGM will only be confirmed after the engagement with the minister.
Mark Alexander Gayton Mckenzie Springboks Rugby Investing Sa Rugby Minister Mark Alexander Sgm Special General Meeting Asg Gayton Mckenzie Rian Oberholzer Alexander United States Culture Gayton Mckenzie Ackerley Sports Group Saru Cape Town @Johngoliath82 Boland Griquas Free State Cheetahs Western Province Blue Bulls Sharks Lions
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