EXCLUSIVE: How Saru plans to sell out the Springboks
Business Day has seen a confidential ‘investment structure and business plan overview’ document
The top brass of the SA Rugby Union (Saru) has agreed to hand full control of the Springboks’ commercial rights to US private equity firm Ackerley Sports Group (ASG), even though the plan is to sell the entity a stake of just 20% in the yet-to-be-constituted company that will house SA Rugby’s commercial rights.
Business Day has seen a confidential “investment structure and business plan overview” document outlining the finer details of the arrangement. It reveals a deal that is heavily skewed in favour of the private equity firm, with ASG paying just $75m (about R1.3bn) for 20% of Saru’s commercial interests...
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