Red Disa Investments have confirmed their interest in acquiring a majority stake in Western Province Rugby, and their commitment to sustaining the ethos and success of the DHL Stormers.
An official press release on Thursday confirmed that Red Disa Investments, led by Fynbos Ekwiteit and Ardagh Glass Packaging, are in the final stages of discussions to acquire a 74% stake in WP Professional Rugby, the proud owner of the DHL Stormers and WP professional teams.
The press release issued by Red Disa underlined their connection with rugby in the Western Cape region, and their desire to embrace a captivating Stormers rugby philosophy, while also inspiring schools, clubs, and nurturing local talent to become future Stormers and Springboks.
“The Stormers is an iconic franchise in club rugby, with a talented group of players, led by a mercurial coach in John Dobson, playing in a fantastic stadium and city, supported by the best fans in world rugby,” read the statement.
“Our ambition for the Stormers is aligned with the fans – to be a consistently successful team that is regularly competing for and winning major trophies.”
Red Disa’s acquisition of the majority share will be the conclusion of a detailed process that has arrived at a deal that benefits all stakeholders and will position the Stormers to pursue a sustainable, long-term strategy.
“As Capetonians and lifelong fans of Western Province Rugby and the Stormers, we are very excited by the opportunity to invest in this wonderful franchise,” Johan le Roux, of Fynbos Ekwiteit, said.
“We are confident that the financial stability brought about by this transaction will create the ideal environment for John, Salmaan Moerat and their team to take their rightful place amongst the giants of the game.”
Paul Curnow, CEO of Ardagh Glass Packaging: Africa, added: “An investment in the Stormers, with the focus to develop homegrown talent, would be complementary to Ardagh’s multiple initiatives in South Africa, including expansion of capacity in our Nigel facility, the ‘money4glass’ recycling programme, our new Employee Share Ownership Plan, and the establishment of our Africa IT Centre of Excellence.”
The press release presented an overview of the key stakeholders in the investment firm:
Fynbos Ekwiteit is a Cape Town based investment holding company. The economic rights of Fynbos Ekwiteit vest in Fynbos Trust, which was settled by Capitec founder Michiel le Roux. The purpose of the Fynbos Trust is to contribute to the advancement of South Africa, the advancement of South African sport, culture, religion, education and other interests of South Africans, the protection and advancement of South African animals and vegetation, Afrikaans as a language, and the advancement of the interests of humanity in whichever way or wherever in the world it may be possible.
Ardagh Glass Packaging is the leading glass packaging company in South Africa, employing almost 2,000 people, and with production facilities in Johannesburg and Cape Town.
Marble Head Investments is the personal investment company of André van der Veen, based in Stellenbosch. André previously served on the board of WPPR where he worked closely with John Dobson on the board’s rugby subcommittee and had oversight of the company’s finances. He believes that with the right investment, management, and support from the loyal Western Province supporters, the Stormers could become one of the world’s leading club rugby franchises.
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