The American consortium that failed in its bid to buy a 20 percent stake in the commercial interests of the Springboks has bounced back with a new offer.
The Ackerley Sports Group (ASG) proposed a $75 million (R1.3 billion) bid to the South African Rugby Union’s general council in December, but representatives from the 15 provincial unions rejected it.
A South African partnership has emerged, apparently led by billionaire Johann Rupert, Sharks owner Marco Masotti, and Stormers owner Johan le Roux.
However, ASG declared yesterday that they are open to working with the South African consortium.
“In the coming month, ASG will continue to participate in Saru’s process to secure a world-class financial syndicate by deepening and expanding its own team,” ASG’s Chris and Ted Ackerley said in a statement.
“ASG aims to interact with any approved South African consortium and will collaborate with a competent consultant to ensure that any future strategy is both effective and meets the needs of the member unions.
“These additions will provide an even stronger engine to the already impactful strategic investment we have developed over the past 15 months.”
“During the exclusive negotiation period, ASG met with all the member franchises, Saru leadership, and the Minister of Sports to present the merits and strength of the ASG approach,” according to the Ackerleys.
“This resulted in amended transaction conditions to assure alignment, which were generally agreed upon in a highly thorough Framework Agreement that Saru and ASG believed reflected both the spirit and economic interests of all parties.
“Our team has worked diligently and transparently with the Saru team – leadership and members – to secure an investment partnership to hold all current and future revenue-generating assets of the Springboks and Saru.”
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