The unions that voted against the failed Ackerley Sports Group equity deal want Saru to appoint a six-member committee to oversee the next potential bid.
This was expressed in a letter sent to and acknowledged by Saru on Monday ahead of Thursday’s general council meeting in Johannesburg at which the way forward is set to be discussed.
In December, ASG’s bid – worth R1.4-billion for a 20% stake in SA Rugby’s commercial rights – failed to meet the 75% threshold it required.
Seven of Saru’s 13 voting unions voted no – the Bulls, Boland, Cheetahs, Griquas, Pumas, Sharks, South Western Districts – while the Stormers were also against it but unable to vote as the Western Province RFU was under administration.
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These unions now want Saru to set up a six-member Transaction Committee.
According to the letter, the six must consist of two SA Rugby executives appointed by SA Rugby, two executives from SA Rugby’s members and/or its commercial affiliates, and two independent persons “with the necessary expertise in managing transactions of this nature, with a good understanding of the appropriate process and governance requirements [appointed by the other four members of the committee].”
Meanwhile, News24 reports that the independent investigation into the failed ASG bid, which was commissioned by Saru, has yet to be completed and will not be discussed at Thursday’s meeting.
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Photo: Ashley Vlotman/Gallo Images
