The Vodacom Bulls, Sharks and Stormers have reportedly expressed interest in acquiring a 20% stake in SA Rugby’s commercial rights.
According to News24, the three local unions submitted a letter to SA Rugby on 4 February, proposing an alternative equity transaction following the collapse of the Ackerley Sports Group (ASG) deal last year.
The proposed investment, from a consortium called the “Rainbow Consortium”, would involve both international and South African investors.
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The letter, News24 reports, suggests any deal should match the ASG proposal, which was worth around $75 million (R1.4 billion), with a new Commercial Rights Company holding a 20% share in SA Rugby’s commercial assets.
Unlike the ASG deal, which was scrutinised over commission concerns, the unions reportedly assured that no transaction fees or commissions would be paid to third parties.
It is believed that key figures backing the proposal include Marco Masotti and Stephen Said from the Sharks, the Bulls’ Jannie Durand and Johan van Zyl and Johan le Roux and Bruce MacRobert on behalf of the Stormers.
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