Sa Rugby Deal: Us-based Ackerley Sports Group To Revive Bid

ckerley Sports Group will pursue a new deal for the commercial rights to the world champion Springboks rugby team after an initial bid for the South African organisation failed. The Seattle-based group, which cited support for its efforts from South African Sports Minister Gayton McKenzie, said it will work with a professional adviser and will engage with any approved South African consortium to revive the deal.
The rugby group is at risk of financial collapse unless it bolsters its revenue by emulating rivals such as New Zealands All Blacks, which has concluded a private equity deal, according to SA Rugby President Mark Alexander. Ackerleys exclusive negotiating period with SA Rugby lapsed at the end of last year. That was weeks after its 75 million R1.4 billion bid for a 20 stake in an SA Rugby commercial rights company and effective control of its board failed to win support from the South African groups member unions.

ASG remains confident that its strategic value-creation plan should and will be part of any new proposal, Chris and Ted Ackerley, the brothers who founded ASG, said in a statement on Monday. Ackerley wants to ensure that any future plan is both effective and takes into account the needs of the member unions, they said.