ASG's proposal to acquire a 20% stake in Saru's commercial rights failed to secure the necessary 75% support from member unions.
Saru will have to cough up R14m after its general council voted against Ackerley Sports Group’s private equity bid last month.
“In terms of the agreement reached between the commercial agent and Saru, the said agreement now terminates,” Saru said in a letter sent to union heads on Friday.
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