The privatisation of the six Super Rugby franchises is fast becoming a reality after newly elected South African Rugby Union (Saru) president Mark Alexander announced plans on Thursday to amend its constitution to allow for up to 74% private ownership. With South African rugby struggling financially, a number of rugby’s prominent administrators had called for the change. Former Sharks CEO John Smit, who facilitated a 9% sale of R40m to equity partner SuperSport, as well as Sharks chairman and pharmaceuticals mogul Stephen Saad have been unequivocal in support of greater private ownership at franchise level. They were joined in the chorus by Lions investor Altmann Allers. Saad said in August: "You should not have top brands like the Stormers, Sharks or Bulls being in a position where they are not making money. It’s a crazy situation." Currently, private companies can only purchase a maximum 49% stake in either the Sharks, Stormers, Bulls, Cheetahs, Lions or Southern Kings. At a speci...
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