SA Rugby have provided further clarity on the state of negotiations with preferred equity partner Ackerley Sports Group , while addressing concerns raised by the four franchises.
The company is an expansion of family-owned investment firm named Ackerley Partners, who have stakes in several Seattle-based sporting franchises, including MLR’s Seattle Seawolves. It recently purchased a minority stake in English football team Leeds United. While concerns have been raised about the impact that the deal could have on the Springboks, SA Rugby assured that “all national teams will retain their existing management and ownership models”.As national institutions, the Springboks and SA Rugby are not transferable to private equity,” the statement said. “This strategy is about harnessing our commercial rights in partnership with an organisation, creating a separate entity dedicated to elevating our commercial profile.
In the statement, SA Rugby said that ASG was “unanimously chosen” by the member unions of SA Rugby, including the four franchises, as the preferred equity partner during a general meeting on 7 December. ASG and CVC made presentations during the meeting.
Source: News Formal (newsformal.com)
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