Rugby/SARU: arrival of American investment fund Ackerley Sports Group to be put to a vote 17/10/2024

The 14 member unions of the South African Rugby Union (SARU) board are being asked to vote on whether a private investor should take a stake in the Union through the creation of a commercial company, according to the South African Rugby Union on 04/10/2024. The vote, during "which a formal offer is planned to be presented for consideration", is scheduled for 17/10/2024.

This offer is from the American investment fund Ackerley Sports Group, which had announced that it had entered into negotiations with SARU on 08/02/2024. Ackerley, which is preferred to CVC Capital Partners, aims to invest 1.42bn South African Rand (€69.8m) in exchange for a 20% stake in the future commercial structure, which would hold the commercial rights (sponsorship, broadcasting, events and licensing) of SARU, which would nevertheless remain the majority shareholder.

"If the proposal receives a 75% majority of the voting membership, it will trigger the conclusion of an agreement for a private equity company to invest," according to the Federation. "The game's rugby affairs - such as the management, coaching…