Rival Bidder for South Africa’s Rugby Springboks Plans Fan Stake
- Group may offer shares in commercial entity for about one rand
- SA Rugby’s member unions have rejected $75 deal with US firm
Siya Kolisi of the Springboks takes a photo with fans after The Rugby Championship match against the Australia Wallabies in Brisbane, Australia, in August.
Photographer: Matt Roberts/Getty ImagesThis article is for subscribers only.
A consortium interested in bidding for a stake in the commercial rights of South Africa’s Springboks wants to give fans an opportunity to invest in the reigning rugby-union world champions.
The member unions of SA Rugby - which oversees the national team - on Friday rejected its plan to sell a 20% stake in a newly created commercial-rights company for $75 million to Seattle-based Ackerley Sports Group LLC. While the American firm has an exclusivity period until the end of this year to make a revised offer, local investors have expressed interest in acquiring a share of the rights.