SA Rugby: member associations reject Ackerley Sports Group's bid to acquire a stake

The 13 member associations of the South African Rugby Union (SARU) council have rejected the American investment fund Ackerley Sports Group's acquisition of a stake in SARU through the creation of a commercial company, announced SA Rugby on 06/12/2024.

Seven of the 13 associations opposed the deal, which required at least 75% of votes to be validated. The American fund, which officially entered into negotiations with SARU on 08/02/2024, has "an exclusivity period until the end of 2024 to make a revised offer," according to the body.

Ackerley Sports Group was aiming to invest R1.42bn (€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.