WP rugby clubs say ‘Yes’ to equity proposal

A majority of Western Province clubs voted in favour of a proposed equity deal to sell a controlling share in Western Province Rugby to Red Disa Investments.

At a general council meeting at Cape Town Stadium on Wednesday night, Western Province clubs voted ‘Yes’ by a margin of 109 to 50, with more than two thirds of the clubs recognising the opportunity to financially secure the future of rugby in the region.

Professional and community game

Red Disa’s intended involvement with WP Rugby will solidify the Stormers as a powerhouse in the United Rugby Championship and the Champions Cup, while also consolidating the peerless depth and strength of the community game in the region.

By giving the proposal their approval, those who voted yes will leave a pioneering legacy as it was this vote that secured the future of both community and professional rugby in the Western Cape.

Western Province confirmed the news in a press release: “The clubs that constitute the Western Province Rugby Football Union (WPRFU) General Council met at Cape Town Stadium on Wednesday evening to vote on the proposed equity deal put forward by Red Disa consortium to secure a controlling shareholding in WP Professional Rugby Pty Ltd (the professional rugby arm of Western Province Rugby).

“The motion was passed by a significant majority and the future of Western Province Rugby under Red Disa secured.

“SARU as the administrator will provide further information on the way forward in due course.”

The clubs have successfully safeguarded all the best traditions of Western Province Rugby and the equity deal will also create the right environment for the Stormers to be one of the leading club sides in the world.

This story first appeared on sarugbymag.co.za. It is republished here with permission. For the original story click here.