Springbok Rugby Deal Halted by Richest S. Africans, Minister

Richest S. Africans, Minister

  • Rugby unions backed by Rupert, Motsepe, Saad opposed the deal
  • Seattle-based Ackerley faced Oct. 17 vote over its stake bid
The delay is a blow to South African rugby authorities, who lag the commercial income of their largest rivals. 
The delay is a blow to South African rugby authorities, who lag the commercial income of their largest rivals.

Rugby unions linked to South Africa’s richest men and the nation’s sports minister have set back a controversial private equity deal over the commercial rights to the country’s world championship-winning Springbok team.

SA Rugby, which oversees the national Springbok team, planned to sell a 20% stake in a newly created commercial-rights company for $75 million to Seattle-based Ackerley Sports Group LLC. Its member unions were due to vote on the deal on Oct. 17. Those unions run clubs linked to South Africa’s richest man, Johann Rupert, as well as Patrice Motsepe, the country’s only Black billionaire, and pharmaceutical tycoon Stephen Saad.

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