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Springboks on verge of multi-million dollar investment deal
By Rugby365
The Springboks brand could be taken to new heights with the news that the South African Rugby Union (SARU) is on the verge of completing a multi-million dollar investment with American sports company Ackerley Partners.
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In a statement released by the Ackerley Sports Group (ASG) on Thursday, the company confirmed that they are negotiating a partnership agreement to invest in South African rugby at all levels, supporting the professional game, and growing the revenue base of the Springboks and SARU’s commercial activities.
The statement revealed that ASG will invest in a Commercial Rights Corporation (CRC), which will hold all current and future revenue-generating assets of the Springboks and SARU. CRC will be majority-owned by SARU, with ASG taking a significant minority interest.
While ASG has not released the in-depth specifics of the deal, a United States media outlet Sportica reported that Ackerley Partners is poised to invest $75 million (R1.4 billion) in the governing body SARU.
Sportica also reported that SARU will be the majority owner of the new entity, while ASG will hold a roughly 20 percent stake, implying a total business valuation of £300 million.
The media outlet added that the deal is expected to be finalised in May pending the approval of SARU members.
Co-founder Ted Ackerley said that ASG intends to expand the Springboks’ global reach.
“We are excited to partner with a legendary global sports franchise like the Springboks,” said Ted Ackerley, Co-Founder of Ackerley Sports Group.
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“Our collaboration will establish a worldwide expansion of the most iconic brand in rugby.
“This investment in the Springboks represents a unique opportunity for us to match the on-field success of the team with the resources needed to establish and sustain the franchise as a global powerhouse.
“We will bring decades of experience and passion for excellence with us while listening carefully to the people of South Africa to ensure that this team continues to reflect the history and culture of this amazing country.”
With the 2031 World Cup heading to the United States, a deal like this will be a major benefit for the Springboks.
There have been reports that SARU was in talks with Six Nations partners CVC Capital Partners.
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However, those negotiations appear to have halted.