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Bulls bought out by South African billionaire businessman in a highly-anticipated deal

By Online Editors
New Bulls co-owner Patrice Motsepe. (Photo by Noam Galai/Getty Images for Global Citizen)

Billionaire businessman Patrice Motsepe has completed a significant deal with the Blue Bulls Company (BBCo) and club shareholders Remgro to purchase a controlling share in the Pretoria-based franchise.

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The highly-anticipated deal was unanimously concluded during a meeting held at Loftus Versfeld on Thursday evening.

As a result, the new structure means that Remgro – an investment holding company based in Stellenbosch – and the Blue Bulls Rugby Union (BBRU) will have their previously equal percentage of shareholding of 50 percent slashed to 37 percent and 26 percent, respectively.

That will allow 57-year-old Motsepe, a mining magnate reportedly worth US$2.3 billion according to Forbes, to take an equal majority share of 37 percent.

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The Bulls aren’t the only South African rugby franchise to have been bought out by a private investor this year.

The Southern Kings sold a 74 percent share to The Greatest Rugby Company in the Whole Wide World (Pty) Ltd (GRC) in March, allowing them to take majority ownership of the Port Elizabeth-based PRO14 club.

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The move could alleviate fears of homegrown South African players being poached by cashed up offshore clubs in the wake of revelations that up to 20 of the nation’s top schoolboy prospects have been recruited to ply their trade overseas.

A change to the South African Rugby Union’s contracting model last year was designed to keep a wide base of young talent domestically-based rather than trying to maintain the contracts of the country’s top stars, most of whom were being courted by wealthy European and Japanese clubs.

That resulted in the abolishment of the Springboks’ 35-test threshold for offshore-based players, but a change to World Rugby’s residency laws from three to five years has forced the aggressive recruitment of South Africa’s most promising youngsters by French clubs at an earlier age than ever before.

The recruitment tactic stems from a crack down by the French Rugby Federation on the number of players who aren’t eligible to play for France who are signed to Top 14 sides, but the financial boost provided by Motsepe’s acquisition of the Bulls could help offset a potentially devastating trend for South African rugby.

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President of the BBRU, Willem Strauss, expressed his delight with the new deal.

“We put a lot of effort into making this possible over the last few months, and I am proud to say that all the union committee members unanimously voted in favor of the deal,” he said.

“I firmly believe that private investors will add immense value to our beautiful game going forward.

“The benefits of this deal is not only to the BBCo at the professional level, it will also make a positive impact on our amateur rugby, at schools, clubs and development levels. We are privileged and excited to have partners like Mr Motsepe in our corner.”

Alfons Meyer, chief executive of the BBCo, echoed Strauss’ sentiments.

“This is a brilliant deal, not only for us at the BBCo, but also for our communities and the sport industry in general,” he said.

“I look forward to a host of synergies and opportunities that will be forged between us.

“With Mr Motsepe also owning soccer giants Mamelodi Sundowns, there is no doubt that a relationship like this will further enhance and entrench our vision to make Tshwane the sporting capital.”

In other news:

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Jon 5 hours ago
Jake White: Are modern rugby players actually better?

This is the problem with conservative mindsets and phycology, and homogenous sports, everybody wants to be the same, use the i-win template. Athlete wise everyone has to have muscles and work at the gym to make themselves more likely to hold on that one tackle. Do those players even wonder if they are now more likely to be tackled by that player as a result of there “work”? Really though, too many questions, Jake. Is it better Jake? Yes, because you still have that rugby of ole that you talk about. Is it at the highest International level anymore? No, but you go to your club or checkout your representative side and still engage with that ‘beautiful game’. Could you also have a bit of that at the top if coaches encouraged there team to play and incentivized players like Damian McKenzie and Ange Capuozzo? Of course we could. Sadly Rugby doesn’t, or didn’t, really know what direction to go when professionalism came. Things like the state of northern pitches didn’t help. Over the last two or three decades I feel like I’ve been fortunate to have all that Jake wants. There was International quality Super Rugby to adore, then the next level below I could watch club mates, pulling 9 to 5s, take on the countries best in representative rugby. Rugby played with flair and not too much riding on the consequences. It was beautiful. That largely still exists today, but with the world of rugby not quite getting things right, the picture is now being painted in NZ that that level of rugby is not required in the “pathway” to Super Rugby or All Black rugby. You might wonder if NZR is right and the pathway shouldn’t include the ‘amateur’, but let me tell you, even though the NPC might be made up of people still having to pull 9-5s, we know these people still have dreams to get out of that, and aren’t likely to give them. They will be lost. That will put a real strain on the concept of whether “visceral thrill, derring-do and joyful abandon” type rugby will remain under the professional level here in NZ. I think at some point that can be eroded as well. If only wanting the best athlete’s at the top level wasn’t enough to lose that, shutting off the next group, or level, or rugby players from easy access to express and showcase themselves certainly will. That all comes back around to the same question of professionalism in rugby and whether it got things right, and rugby is better now. Maybe the answer is turning into a “no”?

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j
john 8 hours ago
Will the Crusaders' decline spark a slow death for New Zealand rugby?

But here in Australia we were told Penney was another gun kiwi coach, for the Tahs…….and yet again it turned out the kiwi coach was completely useless. Another con job on Australian rugby. As was Robbie Deans, as was Dave Rennie. Both coaches dumped from NZ and promoted to Australia as our saviour. And the Tahs lap them up knowing they are second rate and knowing that under pressure when their short comings are exposed in Australia as well, that they will fall in below the largest most powerful province and choose second rate Tah players to save their jobs. As they do and exactly as Joe Schmidt will do. Gauranteed. Schmidt was dumped by NZ too. That’s why he went overseas. That why kiwi coaches take jobs in Australia, to try and prove they are not as bad as NZ thought they were. Then when they get found out they try and ingratiate themselves to NZ again by dragging Australian teams down with ridiculous selections and game plans. NZ rugby’s biggest problem is that it can’t yet transition from MCaw Cheatism. They just don’t know how to try and win on your merits. It is still always a contest to see how much cheating you can get away with. Without a cheating genius like McCaw, they are struggling. This I think is why my wise old mate in NZ thinks Robertson will struggle. The Crusaders are the nursery of McCaw Cheatism. Sean Fitzpatrick was probably the father of it. Robertson doesn’t know anything else but other countries have worked it out.

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A
Adrian 10 hours ago
Will the Crusaders' decline spark a slow death for New Zealand rugby?

Thanks Nick The loss of players to OS, injury and retirement is certainly not helping the Crusaders. Ditto the coach. IMO Penny is there to hold the fort and cop the flak until new players and a new coach come through,…and that's understood and accepted by Penny and the Crusaders hierarchy. I think though that what is happening with the Crusaders is an indicator of what is happening with the other NZ SRP teams…..and the other SRP teams for that matter. Not enough money. The money has come via the SR competition and it’s not there anymore. It's in France, Japan and England. Unless or until something is done to make SR more SELLABLE to the NZ/Australia Rugby market AND the world rugby market the $s to keep both the very best players and the next rung down won't be there. They will play away from NZ more and more. I think though that NZ will continue to produce the players and the coaches of sufficient strength for NZ to have the capacity to stay at the top. Whether they do stay at the top as an international team will depend upon whether the money flowing to SRP is somehow restored, or NZ teams play in the Japan comp, or NZ opts to pick from anywhere. As a follower of many sports I’d have to say that the organisation and promotion of Super Rugby has been for the last 20 years closest to the worst I’ve ever seen. This hasn't necessarily been caused by NZ, but it’s happened. Perhaps it can be fixed, perhaps not. The Crusaders are I think a symptom of this, not the cause

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T
Trevor 12 hours ago
Will forgotten Wallabies fit the Joe Schmidt model?

Thanks Brett.. At last a positive article on the potential of Wallaby candidates, great to read. Schmidt’s record as an international rugby coach speaks for itself, I’m somewhat confident he will turn the Wallaby’s fortunes around …. on the field. It will be up to others to steady the ship off the paddock. But is there a flaw in my optimism? We have known all along that Australia has the players to be very competitive with their international rivals. We know that because everyone keeps telling us. So why the poor results? A question that requires a definitive answer before the turn around can occur. Joe Schmidt signed on for 2 years, time to encompass the Lions tour of 2025. By all accounts he puts family first and that’s fair enough, but I would wager that his 2 year contract will be extended if the next 18 months or so shows the statement “Australia has the players” proves to be correct. The new coach does not have a lot of time to meld together an outfit that will be competitive in the Rugby Championship - it will be interesting to see what happens. It will be interesting to see what happens with Giteau law, the new Wallaby coach has already verbalised that he would to prefer to select from those who play their rugby in Australia. His first test in charge is in July just over 3 months away .. not a long time. I for one wish him well .. heaven knows Australia needs some positive vibes.

21 Go to comments
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