VIDEO: New party in equity playpen proclaims his plan
Amidst the media clamour over the #NO vote for the South African Rugby Union’s cherry-picked equity partner, Ackerley Sports Group/Win-by-1, a new arrival in the playpen almost slipped under the radar.
Last Thursday, on the eve of the Special General meeting in Cape Town, an Expression of Interest turned up at SARU headquarters in Plattekloof.
A Consortium, represented by Altvest Capital, submitted the EOI to the union.
Altvest’s consortium includes 27four, EasyEquities and RainFin.
According to Altvest Chief Investment Officer Warren Wheatley, the consortium is committed to broad-based ownership of the Springbok brand for all South Africans.
“Our consortium’s expertise across private equity, asset management, and innovative financial solutions uniquely positions us to enhance the Springbok brand and maximize its value for the benefit of all South Africans,” he said.
@rugby365com reached out to Wheatley – and he graciously obliged – for a more in-depth, exclusive interview on his company’s proposal.
Wheatley, who once earned the ‘monstrous’ amount of ZAR100 per match in playing for Wits University, calls himself a ‘rugby fan’.
“Altvest’s mission is to bring unique, bespoke investment opportunities to ordinary people.”
“Why can’t the car guard at Loftus, the fan in the Eastern Cape, or the institution in Sandton all own a piece of Springbok equity?” Wheatley said.
“This [the equity proposal] is a perfect example of how our business model works and what benefits it can have for ordinary South Africans.”
Key highlights
He said he has been following the equity saga from the outset and felt that Altvest could be the ‘perfect’ partner.
“Ours is not a ‘winner takes all’ scenario’,” he told @rugby365com.
“Being at the table means we can bring the fans to the table.
“Our mechanism and our structure allow for that.”
(EXCLUSIVE: @king365ed sat down with Warren Wheatley Chief Investment Officer of Altvest Capital – the latest party in SARU’s equity playpen…..)
Wheatley said they are willing to cooperate with anybody, as long as their ethos of ‘inclusivity’ is adhered to.
“The fans and the players are the custodians of this [Springbok] brand.
“They should be able to participate in the transaction and financially benefit. They must own the brand they love and adore so much.
@king365ed
@rugby365com
* In Parts Two and Three of the interview, we delve deeper into the companies that make up the consortium, the history of Altvest and how he envisages the deal panning out.
