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SA Rugby issue statement over Springboks investment deal
SA Rugby have issued a statement to provide an update on reports that the Springboks are set to receive a multi-million dollar investment from American sports company Ackerley Partners.
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The statement addresses questions that are surely being asked currently by South Africa fans, and emphatically stresses that the Springboks are not being sold.
The next steps in this process are also highlighted in the statement, as well as why Ackerley Partners were chosen over competitors.
The statement reads:
“Why would you do such a deal? A private equity partnership offers not just an immediate financial boost but also crucially provides the expertise, networks, and resources necessary to enhance the commercial value of South African rugby. This collaboration can position SA Rugby, the Springboks and, eventually, other teams for greater global prominence.
“Who are you talking to? The preferred bidder is Ackerley Sports Group (ASG), an American company that is an expansion of an investment company established in 2002 by brothers Ted and Christopher Ackerley. Ackerley Partners have owned all or a part of several professional sports franchises in American basketball, ice hockey, soccer, and rugby, and recently partnered with 49ers Enterprises to assume majority control of the Leeds United Football Club.
“Why did you choose ASG? They were unanimously chosen by the members of SA Rugby – including the franchise owning unions – at a General Meeting of SA Rugby on 7 December 2023 after ASG, and another bidder, CVC, made presentations to the meeting. ASG’s offer primarily focuses on immediate financial gain and guaranteed income, with lower thresholds for contingency payments, presenting a straightforward proposal for a commercial partnership, which we believe could offer comprehensive advantages to our organization. The ultimate decision will hinge on balancing the immediate financial requirements with the long-term strategic objectives of our rugby organisation.
“Is it a done deal? No, our team was mandated to pursue further discussion. The members of SA Rugby have agreed on the primary conditions, however, substantial effort is ongoing behind the scenes to finalise the specifics. Since the finer points are critical, no final approval will be granted until our members have been thoroughly briefed and a mandate secured. This process can only be agreed upon once our 14 members have approved it.
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“Who has sign off? Only one body – the member unions of SA Rugby, the sport’s shareholders. It cannot happen without their approval.
“When will they see the details? Once a proposed final structure for the new company and its relationship with the existing SA Rugby structure has been finalised a series of workshops and information sessions will be undertaken to allow member unions to fully interrogate the deal. That structure is still a work in progress.
“Are you selling the Springboks? No. The Springboks and all national teams will retain their existing management and ownership models. As national institutions, the Springboks and SA Rugby are not transferable to private equity. This strategy is about harnessing our commercial rights in partnership with an organisation, creating a separate entity dedicated to elevating our commercial profile.
“So how will the Springboks be paid? The new commercial entity will remit an annual fee to cover all current operations of SA Rugby – from paying the Boks to providing funding to the unions.
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“What are the next steps: Once a proposed post-deal structure is nearing finalisation it will be workshopped with member unions. Until such time as that position has been reached it would be counter-productive to speculate on.
“Is there a deadline for approval: While not definitive, it is anticipated that a conclusive proposal will be presented to the members at the Annual General Meeting scheduled for 30 May 2024, for their approval or rejection.”
Comments on RugbyPass
Let’s not forget about Ardie Savea just yet.
4 Go to commentsThe URC and the Euro Championscup can’t run at the same time, basically dilutes both competitions.
1 Go to comments“While Sotutu should start at No.8 for the All Blacks against England, but it’s only in that arena that he can prove just how good he really is.” And that my friends is where simply hasnt shone despite multiple opportunities. Even in this performance you can see what did him in in the test arena..he almost always still runs at the opposition almost ramrod upright making him easier to stop than it should be.
4 Go to commentsShould have been 0-0 and a message from SR CEO to both teams - “don’t worry about turning up next year”.
4 Go to commentsGreat work Owen Franks. A great of this team, scoring his first try for the Crusaders since 2010.He was beaming, justifiably. A fine win, he and the rest did the job up front.
1 Go to commentsDanny Care. Lang in die tand.
1 Go to commentsBig empty stadium does nothing for atmosphere but munster are playing well with solid performance
1 Go to commentsYes, Fiji can win the World Cup! With that belief plus their christian faith🙏 and hard work it is achievable. Great article. Ian Duncan Fiji resident 1981-84
2 Go to commentsInteresting comments about Touch. England’s hosting the Touch World Cup this year and the numbers have exploded since their last World Cup in 2019, something like 70% more teams and 40 nations taking part. And England Touch have made a big thing about how many universities are in their BUCS University Touch Championship as well as Sport England membership. Can only see this growing even more domestically as more people become aware of it
10 Go to comments“Cortez Ratima is light years ahead of anyone on current form, while TJ Perenara has also skyrocketed into contention following the unfortunate injury to the talented Cam Roigard.” At last some sanity. Hitherto so many pundits have been wittering on about Finlay Christie to the point one wondered if they were observing a FC in a parallel universe where the FC they saw wasnt just the mediocre Shayne Philpott project of Fosters hapless AB reign in the real world. Ratima, Perenara and Fakatava are the ONLY logical 9s for Razor now Roigard is crocked.
4 Go to commentsThis game was just as painful as the Hurricanes game. It was real fork-in-the-eye stuff.
4 Go to commentsNow if they could just fire the Crusaders ground PA guy who likes to play his dance music and just loves the sound of his own voice the entire game, even when play is going on. And I thought their brass band thing of a few years ago was bad.
5 Go to commentsUnfortunately when you lose by far the two form players this season in Roigard and Aumua, you're left replacing two game changing Tanks with a couple of pea-shooters. Which is also about the speed of TJs pass.
4 Go to commentsBit rich coming from the guy with zero loyalty to anyone or any team, including happily taking a players place in a league world cup squad because well, SBW wanted to play in it and thus an already named player got told he was no longer going. And airing stuff like this, which may or may not be true, doesn't exactly say you're a stand up guy either SBW. Just looking to keep his name in lights as usual.
38 Go to commentsTamati Tua. …the Taniwha NPC midfielder. Ollie Sapsford, Hawkes Bay NPC midfielder…doing well
4 Go to commentsFiji deserve to be in the rugby championship, fans love seeing the Fijian national team play, the Fijian Drua is a wonderful idea but the players can still be stolen to play for NZ and AUS…
2 Go to commentsThe first concern for this afternoon are wheather forecast…
1 Go to commentsWhy cant I watch Rugby games please?
1 Go to commentsBeautiful shot from Finau, end of story. Gutted for Shaun Stevenson though.
4 Go to commentsThe Chiefs definitely didn’t win ugly. They had the superior scrum, a dominant lineout, and their defence was excellent once the Waratahs scored their two tries (thanks to some lucky refereeing calls mind you). They put pressure on the Waratahs lineout throughout the game, and the mind boggles as to why the referee did not award a yellow card or a penalty try against the Waratahs for repeated scrum infringements on their own try line before Narawa’s first try. And the Chiefs were slick with their passing and running angles on attack. It was a dominant performance all round, even with many questionable refereeing decisions.
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