SA Rugby Rejects Private Equity Investment Proposal for Commercial Rights

  • 📰 SARugbymag
  • ⏱ Reading Time:
  • 16 sec. here
  • 7 min. at publisher
  • 📊 Quality Score:
  • News: 27%
  • Publisher: 51%

Sports News

SA Rugby Rejects Private Equity Investment Proposal for Commercial Rights
SA Rugby,Private Equity,Rugby Commercial Rights

SA Rugby has turned down a private equity investment proposal for the sport's commercial rights, as the proposal failed to secure the required 75% majority approval from member unions. The Ackerley Sports Group, the preferred bidder, has until the end of 2024 to revise its offer. SARU remains committed to a sustainable future for rugby in South Africa.

SA Rugby has declined a private equity investment proposal for the sport's commercial rights, failing to secure the necessary 75% majority. Seven of the 13 member unions with voting rights opposed the deal. The Ackerley Sports Group, the preferred bidder, retains an exclusivity period until the end of 2024 to present a revised offer.

SARU president Mark Alexander emphasized the importance of a sustainable future for South African rugby, expressing gratitude for member input and pledging to work transparently. During the same meeting, Mary-Ann Musekiwa was elected as the women's representative to the World Rugby General Council

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

SARugbymag /  🏆 33. in CA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

South African Rugby Union Rejects Private Equity Investment ProposalThe South African Rugby Union (Saru) has rejected a proposal to accept a potential private equity investment in the sport's commercial rights, failing to meet the required 75 percent majority. Seven of the 13 member unions with voting rights opposed the proposal. Ackerley Sports Group, who were the preferred bidders, have until the end of 2024 to make a revised offer.
Source: TheCitizen_News - 🏆 6. / 75 Read more »