New York-based financier Douglas Schoninger attended a classified meeting with SA Rugby bosses in Cape Town last week over the possible buyout of a majority stake in EP Rugby.
According to the Herald, Schoninger flew to South Africa to begin negotiations to buy a 74% stake in the beleaguered EP Rugby union. In what should have been a secret visit after he and SA Rugby agreed to a 'news blackout' because of the sensitive nature of the talks.
It's believed Schoninger and SA Rugby president Mark Alexander met for an informal braai at the Cullinan Hotel last Sunday, but when quizzed about it Alexander referred questions to his media department.
The deal, often referred to as the 'American Alliance', could potentially save EP Rugby from its financial troubles if it materialises.
Photo: Douglas Schoninger