Government intervenes over SA Rugby equity proposal
The Peninsula
Johannesburg: Government intervention on Wednesday led to the postponement of a South African Rugby meeting that would have voted on a controversial e...
Johannesburg: Government intervention on Wednesday led to the postponement of a South African Rugby meeting that would have voted on a controversial equity proposal.
An SA Rugby statement said the meeting on Thursday in Cape Town would be rescheduled at the request of sports minister Gayton McKenzie.
A proposed 1.3 billion rand ($74 million/68 million euro) deal with the Ackerley Sports Group would give the Seattle-based company a 20 percent stake in the commercial arm of SA Rugby.
But a senior provincial rugby official told AFP opinion was sharply divided over the proposal, which requires 75 percent backing from the 13 provinces eligible to vote for it to be passed.
SA Rugby say the deal will strengthen the organisation financially while opponents argue that there are many unanswered questions.
