Ackerley Sports Group (ASG) reportedly remains interested in securing a stake in SA Rugby despite last week’s rejection of their R1.4 billion proposal by the union’s voting members.
According to Sunday newspaper Rapport, the US investment group plans further consultations with key franchise stakeholders before their exclusive negotiating rights expire at year’s end.
“After Friday’s meeting, they indicated that they are not walking away from the transaction yet but will first talk to the shareholders,” said a Rapport source.
“We will probably only know next week if ASG will make a new offer or not.”
RECAP: Unions reject SA Rugby equity deal
ASG’s initial offer to acquire 20% of SARU’s commercial rights failed to secure the necessary support, with seven of the 13 unions voting against it.
Surprisingly, the Lions did not oppose the deal as previously expected, while the Pumas shifted from neutral to a rejection.
Several concerns were reportedly addressed ahead of Friday’s vote, including reducing third-party commission fees from 15% to 8% and clarifying Test-hosting payments. However, doubts over ASG’s suitability as a partner persisted.
Amid ASG’s persistence, local alternatives have surfaced with the likes Johann Rupert, Marco Masotti and Johan le Roux rumoured to be preparing a proposal with no commission fees.
Meanwhile, a South African business consortium, including AltVest Capital and EasyEquities, has signalled interest in an equity deal with SARU.
Photo: Wessel Oosthuizen/Gallo Images
