Money matters: Sharks draw laager

The Sharks have drawn the laager, in the wake of reports that there is an investigative audit underway over money matters.

The Sunday Tribune newspaper reported that a forensic investigation into the Sharks finances has been ordered by an auditing company.

Playing enquiries with a straight bat, a spokesperson from the Sharks told rugby365: "Please be advised that the Sharks have nothing further to add than what has already been said [in the article] by the chairman of our board as well as our CEO."

According to the newsapaper Sharks Pty Ltd, the company that administrates the franchise, confirmed that certain issues had been voiced at a recent behind-closed-doors meeting.

Stephen Saad, Chairman of the Sharks administrative board, said that while a preliminary inquiry into the financial management of the company had been instituted, he could not comment on any concerns or issues that have been raised.

"It is far too premature to say anything," Saad told the Sunday Tribune.

"If there is anything of public interest to be aired in the future, I assure you it will be done in a spirit of transparency."

However, it is understood, from insiders, that certain concerns were raised during the financial report back about how money had been used to promote the Sharks franchise under the watch of former Chief Executive Brian van Zyl.

President of the KwaZulu-Natal Rugby Union, Graham Mackenzie, said that while he was aware of these developments, he could not make any comment.

"I think we need to allow the auditors to do their job. There is certainly no intention of hiding anything."

New Chief Executive and World Cup-winning former Springbok captain John Smit said that "as the new kid on the block" there was nothing to add, as any decisions of this nature were taken at a board level and did not involve him.

"My challenges are very different," he said.

It appears that the financial matters under scrutiny date back several years, prior to the dawn of new administrative era last year under the leadership of Smit.

Van Zyl, who took office in 1994 and retired in February this year, said that he was unaware of the details of the investigation that was taking place.

"I have no idea what it entails, as I was not present at the meeting where these matters were discussed."