SA Rugby won’t sell the Springboks, BUT …

SA Rugby won’t sell the Springboks, BUT …

SA Rugby president Mark Alexander has promised that the governing body won’t sell the Springboks, even though it’s reportedly on the verge of signing a deal with private equity firm CVC.

According to the RugbyPass website, speaking at the launch of the Champions Match in Johannesburg, Alexander said SA Rugby’s aim is to acquire private investors because they cannot solely depend on the government.

“We realise that we need to bring in private investors to help us reach our goals. We do not have the money to fund all of these programmes. We cannot just keep looking to the government,” he said.

“We need to do things for ourselves. The government cannot help us with everything. We need to complete this private equity transaction. We are not selling the Springboks, we are not selling SARU.

“We realise that we need to bring more private investors into our game. All we are doing is putting our rights into a vehicle and maximising them at a different level.”

According to a press release, SA Rugby managed a revenue increase of 80 percent between 2020 and 2021 despite low crowd figures due to Covid-19.

The British & Irish Lions series brought in broadcast income and sponsorship deals of R629 million and R329 million, respectively.

“We want to put a succession plan in place for our key positions and ensure that women’s rugby takes its rightful place.”

CVC already has a stake in the Six Nations, Gallagher Premiership and URC and will further its footprint in rugby by extending its commercial outreach to South Africa.

Women’s rugby. Photo: SA Rugby website

↯↯↯Read More On The Topic On TDPel Media ↯↯↯