FILE - SA Rugby president Mark Alexander pictured at a press conference. (Photo by GULSHAN KHAN / AFP)
SA Rugby has postponed its planned Special General Meeting (SGM) to consider a proposal to conclude a private equity investment in the sport’s commercial rights following a request by Minister of Sport, Arts and Culture Gayton McKenzie.
President Mark Alexander and Saru had called meeting where the unions would have voted on the proposed R1.3 billion equity deal with United States-based Ackerley Sports Group (ASG).
The meeting was scheduled to take place in Cape Town on Thursday, but will now be rescheduled to allow McKenzie “time to fully brief government” on the proposal.
“We received the request from the minister this morning and we are happy to oblige, having shared the request with our member union presidents,” Alexander said.
“We had previously briefed him on his appointment, but we understand his request for further assurance considering the newsworthiness of this proposal.”
The deal has been a hot topic of discussion since Monday, after seven of the 14 unions sent a letter to Alexander and CEO Rian Oberholzer to postpone the meeting, citing come concerns.
SA Rugby needs the support of 75% of unions for the ASG deal to be pushed through.
SA Rugby, the custodians of the Springboks, sent out an explainer about the proposed deal on Tuesday after that letter was leaked. The meeting was set to go ahead despite the concerns of the Lions, Sharks, Blue Bulls, Western Province, Free State Cheetahs, Griquas and Boland, who undersigned the leaked letter.
“We look forward to providing any information the Minister may require,” Alexander added.
“We believe that the proposed partnership, along with our identified partner, offers an opportunity for organic growth rather than simply serving as a cash injection. Importantly, it ensures that the Springboks will remain under the control and direction of SA Rugby, safeguarding the future of our organisation.”
SA Rugby said in a statement a new date for the SGM will only be confirmed after the engagement with the minister.
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