Saru out to correct ‘misinformation and posturing’ on equity deal

Last week's South African Rugby Union (Saru) roadshow to fully apprise their member unions of their proposed equity deal with the Ackerley Sports Group hit a few speed bumps.

The organisation again addressed concerns regarding the deal during a meeting of the Presidents’ Council in Cape Town on Wednesday and has mandated a task team to provide more information on key issues for additional clarification to members.

While the organisation has fully committed to briefing members it is frustrated by dissenting voices that have 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,” Saru president Mark Alexander said in a statement.

On Thursday Saru's provincial affiliates were supposed to vote on the deal in which SA Rugby stood to receive $75m (R1.3bn) in exchange for a 20% stake in their commercial programme for the American consortium.

The deal, however, has attracted criticism, mainly from the major unions, and its future is in the balance. Some of the criticism has focused on an apparent lack of transparency but Alexander was keen to set the record straight.

“We believe our organisation has a long-standing track record for good governance and responsible management, as well as nation-building in representative teams.

“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.”

The special general meeting (SGM) scheduled for Thursday to consider the proposal was postponed at the request of minister of sport, arts and culture Gayton McKenzie to provide additional information as requested.

A new date for the SGM before year-end will only be confirmed after the engagement with the minister.