EDITORIAL: Something rotten about SA Rugby deal
It is hard to argue with unions objecting to the substance of the transaction and the process
At the time this edition of Business Day went to print the 14 member unions of the SA Rugby Union (Saru) were set to meet on Thursday to vote on a controversial private equity dea (https://www.businesslive.co.za/bd/national/2024-10-14-exclusive-how-saru-plans-to-sell-out-the-springboks/)l proposal that would cause Seattle-based private equity firm Ackerley Sports Group (ASG) to acquire 20% of Saru’s commercial rights.
There is a good chance the meeting will no longer take place as scheduled since seven of the 14 have signed a letter (https://www.businesslive.co.za/bd/national/2024-10-15-read-here-explosive-letter-takes-aim-at-dubious-saru-deal/) opposing the deal on the basis of a lack of transparency and asking for a postponement of the meeting until clarity has been provided on a number of issues that have raised red flags...
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