South African Rugby has postponed a Special General Meeting that was to be held on Thursday for unions to vote on a private equity deal with United States-based Ackerley Sports Group ASG, officials said.
The request for a postponement was made by Minister of Sports Gayton McKenzie, who asked for more time to consider the merits of the deal that would see investors take up a 20 stake in SA Rugbys commercial rights company.
The postponement may be opportune for SA Rugby with local media reporting this week that several of the 14 unions were set to request more time to digest the merits of the deal, and it was unlikely there would be the 75 of votes in favour needed to push it through.
A new date for the SGM has not been set, but SA Rugby suggested it would be before the end of the year.
We believe the proposed partnership, along with our identified partner, offers an opportunity for organic growth rather than simply serving as a cash injection, SA Rugby president Mark Alexander said in a statement on Wednesday.
