Boland on the brink of 'big leagues'
REACTION: Newly-crowned First Division champions Boland could soon be in the ‘big leagues’ – financially.
Remgro CEO Jannie Durand confirmed to @rugby365com that they are in the process of buying a ‘controlling share’ in the Boland Rugby Union.
They will be part of the same consortium which owns a 74 percent share in the Blue Bulls Company – Johann Rupert (Remgro) and Patrice Motsepe (African Rainbow Capital).
Just as in their deal with the BBC, Remgro and ARC will own 37 percent each of the BRU – with the Boland union retaining the other 26 percent.
Durand said some details have to be finalised and permission required from the South African Rugby Union.
“We are excited to partner with Boland,” he told @rugby365com, adding: “[We] hope to complete the transaction as quickly as possible – once all the approvals have been obtained.”
The Boland Cavaliers were crowned First Division champions at the weekend – beating the Falcons 43-21 in the Final in Wellington.
Starting fast and defending heroically, the hosts outscored the newly-crowned Mzansi Challenge champions by five tries to three to deny them a historic double and soar to First Division glory – taking the title for the first time in 12 years after they beat Eastern Province in Wellington.
Should the purchase be approved by SARU, Boland will become the first non-franchise union in the country to get a majority private equity partner.
It will also be an ironic twist, since the neighbouring cash-strapped Western Province Rugby Football Union turned their backs on Remgro and was subsequently placed under administration by SARU.
@king365ed
@rugby365com
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