Newlands: Flyt watches from the sidelines as new battle lines are drawn
REACTION: Flyt, holding all the trump cards, are standing quietly on the sidelines as the latest developments in the Newlands saga plays out.
The latest act in the ongoing saga unfolded after the Western Province Rugby Football Union and South African Rugby Union announced on Thursday that the Newlands Rugby Stadium was to be placed on the market in a sealed bidding process.
It set in motion a series of behind the scenes meetings that are likely to continue well into next week.
However, Zane de Decker, the Chief Executive Officer of Flyt Property Investment, is not ready to jump into the ‘mosh pit’.
He is happy to bide his time, as he has bonds registered on all the properties and anybody wishing to take control of Newlands or any other properties will first have to pay off his loan to WPRFU – worth more than ZAR145-million (loan amount, interest, raising fee, damages and costs).
The other big player in the mêlée, Staytus boss Werner Roux, is also keeping his cards close to his chest.
He is on record as having said he believes he has a valid and signed document that gives him exclusive rights to develop the properties.
Staytus made an offer to Flyt/Dreamworld to repay the loan and have the properties returned to them.
De Decker, who filed formal papers on WPRFU in the Western Cape High Court in March last year, confirmed to @rugby365com that the loan has still not been repaid.
“As the bondholder of the property [Newlands], we were aware of the bidding process,” he said of SARU’s geste this week.
He declined to elaborate on whether he plans to take any steps.
However, it has not been so placid in the club ranks, with rumblings of memorandums to the national body to express their aversion to this week’s announcement and SARU’s conduct in general.
And Zelt Marais, who brazenly claims he is NOT suspended, as everybody believes, is also hovering in the wings.
Marais, prompted by @rugby365com for reaction to this week’s developments, would not rule out formal action from the union against SARU.
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“The ultimate decision rests with the general counsel and the trustees of WPRFU,” Marais said.
Asked by @rugby365com what powers they have, given – according to this website’s understanding – they are all suspended, Marais retorted with: “Not that I am aware of.”
He then asked this website to share said suspension letter(s) with him, upon which he was provided with a copy of SARU CEO Jurie Roux’s letter to Marais, dated 12 October 2021.
Marais did not respond further to any requests for comment.
It is obvious SARU’s latest action is about to be met with strong resistance from the Marais camp and also within the club ranks.
@king365ed
@rugby365com
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Zelt takes aim at SARU
Police investigating ‘fraud’ in Newlands saga
WPRFU: The rise and fall of a ‘war room’
WPRFU: When the truth is stranger than fiction
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WPRFU & Stade: McKeever was only a ‘facilitator’
WPRFU & Stade: Another McKeever misfire
SARU CEO ordered to pay back ZAR37-million
