SA Rugby to continue engagement on equity deal

The South African Rugby Union (Saru) remain committed to “delivering a sustainable future for the sport” and are hopeful that they will be able to hold a Special General Meeting before the end of the year to vote on an equity deal.

A vote by the member unions of Saru (in effect, the provincial unions) was to have taken place on Thursday, but it was postponed after sports minister Gayton McKenzie requested more time to get to grips with the ins and outs of the deal.

SA Rugby are hoping to set up a new company with US-based Ackerley Sports Group to help look after the rugby body’s commercial matters. The deal is said to be worth billions of Rands for SA rugby in exchange for a 20% share in the new company, headed by Saru.

It has been learned that several provincial unions in South Africa are opposed to the deal.

Task team appointed to provide information

On Wednesday, president of Saru Mark Alexander and SA Rugby CEO Rian Oberholzer are said to have addressed the matter at the Presidents’ Council meeting in Cape Town.

According to a statement released by SA Rugby, a task team was mandated following the meeting to provide more information on key issues for additional clarification to members.

“We remain committed to transparency and accountability, and it is important to correct the misinformation and posturing that has surfaced in the media,” said Alexander.

“We believe our organisation has a long-standing track record for good governance and responsible management, as well as nation-building representative teams.

“Throughout this process, we have diligently adhered to all protocols and followed due process. Our actions have consistently been guided by the principles of integrity and fairness.

“We would urge all stakeholders and the public to rely on verified, accurate information and to support our ongoing efforts to uphold the high standards of South African rugby in delivering a sustainable future for the sport. Our commitment to the growth and success of the sport in our country remains unwavering.”

SA Rugby stated a new date for the Special General Meeting before year-end would only be confirmed after engagement with McKenzie.