Bulls bought out by South African billionaire businessman in a highly-anticipated deal
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.
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.
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.
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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.
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.”
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Comments on RugbyPass
What a load of bollocks. The author has forgotten to mention the fact that the Crusaders have a huge injury toll with top world class players out. Not to mention the fact that they are obviously in a transition period. No this will not spark a slow death for NZ rugby, but it does mean there will be a new Super Rugby champion. Anyone who knows anything about NZ rugby knows that there is some serious talent here, it just isn’t all at the Crusaders.
1 Go to commentsI wouldn’t spend the time on Nawaqanitawase! No point in having him filling in a jersey when he’s committed to leave Union. Give the jersey to a young prospect who will be here in the future.
4 Go to commentsIt was a pleasure to watch those guys playing with such confidence. That trio can all be infuriating for different reasons and I can see why Jones might have decided against them. No way to justify leaving Ikitau out though. Jorgensen and him were both scheduled to return at the same time. Only one of them plays for Randwick and has a dad who is great mates with the national coach though.
53 Go to commentsBrayden Iose and Peter Lakai are very exciting Super Rugby players but are too short and too light to ever be a Test 8 vs South Africa, France, Ireland, and England, Lakai could potentially be a Test player at 7 if he is allowed to focus on 7 for Hurricanes.
5 Go to commentsPencils “Thomas du Toit” into possible 2027 Bok squad.
1 Go to commentsDon’t see why Harrison makes the bench. Jones can play at 10 if needed, and there is a good case for starting her there to begin with if testing combinations. That would leave room for Sing on the bench
1 Go to commentsWhat a load of old bull!
1 Go to commentsOf the rugby I’ve born witness to in my lifetime - 1990 to date - I recognize great players throughout those years. But I have no doubt the game and the players are on average better today. So I doubt going back further is going to prove me wrong. The technical components of the game, set pieces, scrums, kicks, kicks at goal. And in general tactics employed are far more efficient, accurate and polished. Professional athletes that have invested countless hours on being accurate. There is one nation though that may be fairly competitive in any era - and that for me is the all blacks. And New Zealand players in general. NZ produces startling athletes who have fantastic ball skills. And then the odd phenomenon like Brooke. Lomu. Mcaw. Carter. Better than comparing players and teams across eras - I’ve often had this thought - that it would be very interesting to have a version of the game that is closer to its original form. What would the game look like today if the rules were rolled back. Not rules that promote safety obviously - but rules like: - a try being worth 1 point and conversion 2 points. Hence the term “try”. Earning a try at goals. Would we see more attacking play? - no lifting in the lineouts. - rucks and break down laws in general. They looked like wrestling matches in bygone eras. I wonder what a game applying 1995 rules would look like with modern players. It may be a daft exercise, but it would make for an interesting spectacle celebrating “purer” forms of the game that roll back the rules dramatically by a few versions. Would we come to learn that some of the rules/combinations of the rules we see today have actually made the game less attractive? I’d love to see an exhibition match like that.
29 Go to commentsIrish Rugby CEO be texting Andy Farrell “Andy, i found our next Kiwi Irishman”
5 Go to commentsI certainly don’t miss drinking beers at 8am in the morning watching rugby games being played in NZ.
1 Go to commentsThis looks like a damage limitation exercise for Wales, keeping back some of their more effective players for the last 20/25 minutes to try and counter England’s fresh legs so the Red Roses don’t rack up a big score.
1 Go to commentsVery unlikely the Bulls will beat Leinster in Dublin. It would be different in Pretoria.
1 Go to commentsI think it is a dangerous path to go down to ban a player for the same period that a player they injured takes to recover. Players would be afraid to tackle anyone. I once tackled my best friend at school in a practice match and sprained his ankle. I paid for it by having to play fly-half instead of full-back for the rest of that season’s fixtures.
5 Go to commentsJust such a genuine good bloke…and probably the best all round player in his generation. Good guys do come first sometimes and he handled the W.Cup loss with great attitude.
2 Go to commentsWord in France is that he’s on the radar of a few Top14 clubs.
5 Go to commentsGet blocking Travis, this guy has styles and he’s gonna make a swift impact…!
1 Go to commentsWhat remorse? She claimed that her dangerous tackle wasn’t worthy of a red! She should be compensating the injured player for loss of earnings at the minimum. Her ban should include the recovery time of the injured player as well as the paltry 3 match ban.
5 Go to commentsArdie is a legend. Finished and klaar. Two things: “Yeah, yeah, I have had a few conversations with Razor just around feedback on my game and what I am doing well, what I need to improve on or work-ons. It’s kind of been minimal, mate, but it’s all that I need over here in terms of how to be better, how to get better and what I am doing well.” I hope he’s downplaying it - and that it’s not that “minimal”. The amount of communication and behind the scenes preparation the Bok coaches put into players - Rassie and co would be all over Ardie and being clear on what is expected of him. This stands out for me as something teams should really be looking at in terms of the boks success from a coaching point of view. And was surprised by the comment - “minimal”. In terms of the “debate” around Ireland and South Africa. Nice one Ardie. Indeed. There’s no debate.
2 Go to commentsThere’s a bit of depth there but realistically Australian players have a long way to go to now catch up. The game is moving on fast and Australia are falling behind. Australian sides still don’t priories the breakdown like they should, it’s a non-negotiable if you want to compete on the international stage. That goes for forwards and backs. The Australian team could have a back row that could make a difference but the problem is they don’t have a tight five that can do the business. Tupou is limited in defence, overweight and unfit and the locks are a long way from international standard. Frost is soft and Salakai-Loto is too small so that means they need a Valentini at 8 who has to do the hard graft so limits the effectiveness of the backrow. Schmidt really needs to get a hard working, tough tight 5 if he wants to get this team firing.
4 Go to commentsSorry Morgan you must have been the “go to for a quote” ex player this week. Its rnd 6 and there is plenty of time to cement a starting 15 and finishing 8 so I have no such concerns.
2 Go to comments