The South African Rugby Union (Saru) has been in the spotlight for a proposed deal to sell 20% of its equity to Ackerley Sports Group, an American company.
TimesLIVE reported SA Rugby stood to receive $75m (R1.3bn) in exchange for the 20% stake in commercial rights. Saru's provincial affiliates were supposed to vote on the deal at a special general meeting on Thursday but this was postponed after sport, arts and culture minister Gayton McKenzie requested a delay to review information on it.
Seven of Saru's 14 provincial unions have opposed the deal.
Saru president Mark Alexander said the union had followed all protocols and the organisation has committed to briefing members.
Saru said it is frustrated by dissenting voices that have allegedly muddied the waters about the deal.
“We remain committed to transparency and accountability and it is important to correct the misinformation and posturing that has surfaced in the media,” Alexander said.
“We believe our organisation has a long-standing track record for good governance and responsible management, as well as nation-building representative teams,” Alexander said.
“Throughout this process, we have diligently adhered to all protocols and followed due process. Our actions have consistently been guided by the principles of integrity and fairness.
“We urge all stakeholders and the public to rely on verified, accurate information and to support our efforts to uphold the high standards of South African rugby in delivering a sustainable future for the sport. Our commitment to the growth and success of the sport in our country remains unwavering.”
POLL | Should SA Rugby proceed with its deal to sell 20% of its equity to Ackerley?
Image: Lee Warren (Gallo Images)
The South African Rugby Union (Saru) has been in the spotlight for a proposed deal to sell 20% of its equity to Ackerley Sports Group, an American company.
TimesLIVE reported SA Rugby stood to receive $75m (R1.3bn) in exchange for the 20% stake in commercial rights. Saru's provincial affiliates were supposed to vote on the deal at a special general meeting on Thursday but this was postponed after sport, arts and culture minister Gayton McKenzie requested a delay to review information on it.
Seven of Saru's 14 provincial unions have opposed the deal.
Saru president Mark Alexander said the union had followed all protocols and the organisation has committed to briefing members.
Saru said it is frustrated by dissenting voices that have allegedly muddied the waters about the deal.
“We remain committed to transparency and accountability and it is important to correct the misinformation and posturing that has surfaced in the media,” Alexander said.
“We believe our organisation has a long-standing track record for good governance and responsible management, as well as nation-building representative teams,” Alexander said.
“Throughout this process, we have diligently adhered to all protocols and followed due process. Our actions have consistently been guided by the principles of integrity and fairness.
“We urge all stakeholders and the public to rely on verified, accurate information and to support our efforts to uphold the high standards of South African rugby in delivering a sustainable future for the sport. Our commitment to the growth and success of the sport in our country remains unwavering.”
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