Marco Masotti‚ who heads MVM Holdings‚ has offered US$6-million for a 51 percent stake in the Stormers‚ Independent Media has reported.
His company profile reads: ‘Marco serves as President of the Friends of the Legal Resources Centre‚ South Africa’s largest public interest‚ human rights law clinic‚ and he is part of the Founding Advisory Board for the Sorensen Center for International Peace and Justice at the City University of New York School of Law. Marco was awarded a Fulbright Placement Award upon graduating from the University of Natal School of Law.
Having an additional R100m may allow them to retain some of their top talent but that cash injection for the controlling share of the franchise seems at the lower end of the valuation scale. Whether MVM’s offer‚ which was made on the 8th of July‚ will be accepted is moot. The clubs who make up the WPRFU are unlikely to sanction the deal as they have fastidiously held onto control of the organisation.