CAPE TOWN - The SA Rugby Union insists it won’t be selling off the national team, the Springboks, through a R1.3 billion private equity deal to an American sports company.
After initially evading Parliament in November, SARU appeared before the portfolio committee on Wednesday. For weeks, reports of a 75 million dollar equity deal with the Ackerley Sports Group for a 20% stake in SA Rugby has sparked controversy within the fraternity. SARU CEO Rian Oberholzer said that the union would not be able to sustain its Rugby World Cup success if it doesn't generate more income.
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