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Rival bidder for Springboks plans fan stake
December 12, 2024
|The Citizen
A consortium interested in bidding for a stake in the commercial rights of South Africa's Springboks wants to give fans an opportunity to invest in the reigning rugby-union world champions.
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The member unions of SA Rugby, which oversees the national team, recently rejected its plan to sell a 20% stake in a newly created commercial-rights company for $75 million (about R1.3 billion) to Seattle-based Ackerley Sports Group LLC.
While the American firm has an exclusivity period until the end of this year to make a revised offer, local investors have expressed interest in acquiring a share of the rights.
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