SA Rugby says no to US investment in the Springboks

The family silver remains intact at SA Rugby headquarters despite some employees’ best efforts to sell it.

In short, American investors have been wooing SA Rugby’s bosses with the bait of a golden sum of US Dollars upfront in return for a percentage of the future earnings of the hottest property in world rugby.

But yesterday, the 13 presidents of the country’s provincial unions decided to kick the Americans into touch.

At a meeting of the South African Rugby Union (SARU) in Cape Town yesterday, the matter was put to the vote and foreign equity investment in the sport’s commercial rights was rejected.

The Springboks, for now, remain the exclusive property of South Africa and will not be subjected to the vagaries of life on the American stock market.

The proposal failed to reach the 75 percent majority required for such a transaction to be approved. But it was a close call, with seven of the 13 member unions with voting rights giving the Americans the thumbs down.

However, the Ackerley Sports Group—which the members identified as the preferred bidder in December 2023—has an exclusivity period until the end of 2024 to make a revised offer, should it wish.

This is a good thing because South Africa’s rugby people can have a long hard think about the implications of foreign investment in the green and gold and make an informed decision.

“The input and perspectives shared by our members have been invaluable, and we respect those perspectives,” said Mr Mark Alexander, president of SARU.

“Our goal remains to secure a sustainable and prosperous future for South African Rugby, ensuring that we continue to grow and succeed on both the national and international stages.

“We remain committed to working transparently and inclusively as we navigate this process. We thank our members for their engagement and feedback and look forward to presenting revised proposals that reflect our collective vision and goals in due course.”

The same meeting elected Mary-Ann Musekiwa – a member of the Executive Council as its female representative to the World Rugby General Council.