US private equity firm Ackerley Sports Group (ASG) is set to purchase a 20% stake in the SA Rugby Union’s (Saru) commercial rights.
The Business Day publication has seen confidential documents, detailing the rugby union’s plans to sell its commercial rights to ASG for just $75m (about R1.3bn).
This deal will include the commercial rights to the Springbok brand, which is at its most valuable ever due largely to the success of the national team.
Coached by Rassie Erasmus and captained by Siya Kolisi, the Springboks are reigning World Cup champions, having won back-to-back tournaments in 2019 and 2023.
Saru are clearly looking to cash-in on the Springboks on-field success through this venture, by cashing in on the rugby team’s global appeal.
It’s not new to see American investment in rugby, with U.S sports management company Roc Nation Sports signing up several Springbok players to its business including Siya Kolisi, Cheslin Kolbe and Aphelele Fassi.
Speaking to Stephen Grootes on The Money Show, Kabelo Khumalo, companies & markets editor at Business Day questioned the finer details of the deal.
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Author : rugby-247
Publish date : 2024-10-15 10:44:23
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