Not too long ago SA Rugby was in a froth at its inability to attract potential investors in the sport.
Now it will rake in about R100m over the next three years thanks to Castle Free’s headline sponsorship of the Springbok Sevens and the Springbok Women’s Sevens teams. SA Rugby perhaps inadvertently finds itself in a better position after the Sevens team’s previous sponsor’s well publicised financial collapse at the end of 2017.
A source close to the deal said the sponsorship was worth significantly more than the Sevens teams’ previous deal with Steinhoff.
"This has turned out to be a good deal for SA Rugby. "Steinhoff demanded exclusivity when they signed, but in the new deal we can still sell the back [of the jersey] as well as space on the teams’ shorts‚" said the insider who did not want to be named.
He said that once the vacant spaces on the jersey and shorts are populate SA Rugby should be able to generate twice the income received from Steinhoff.
"The timing is perfect‚" said SA Rugby president Mark Alexander. "We have a relationship with South African Breweries that extends 25 years. This fit is right."