WPRFU clubs come to their senses
NEWS: The future of the professional game in the Western Cape was ‘saved’ when the Western Province Rugby Football Union clubs finally came to their senses.
In a statement issued on Wednesday, the WPRFU confirmed that the ‘majority’ of clubs voted in favour of a proposed equity deal for the professional arm – Western Province Professional Rugby (Pty) Ltd.
It was confirmed that the sole remaining offer on the table, that of Red Disa Investments, was accepted by the General Council at a meeting at the Cape Town stadium.
Recommended by South African Rugby Union, Red Disa Investments was the only remaining equity offer left on the table – after 13 of the 14 ‘expressions of interest’ fell by the wayside, as @rugby365com reported last week.
Prior to the meeting, SARU had made it blatantly clear that a ‘NO’ vote would bring about the end of ‘funding’ for the WPPR (the professional game) in the Western Cape.
And while there were a couple of clubs that voted ‘No’ to the deal, the majority recognised the opportunity to secure the financial future of the game in the region.
The official statement by WP Rugby read: “The clubs that constitute the Western Province Rugby Football UnionGeneral Council met at Cape Town Stadium on Wednesday to vote on the proposed equity deal put forward by Red Disa consortium to secure a controlling shareholding in WP Professional Rugby Pty Ltd.
“A significant majority passed the motion and the future of WPPR was secured under the Red Disa deal.
“SARU as the administrator will provide further information on the way forward in due course.”
Red Disa Investments are led by Fynbos Ekwiteit and Ardagh Glass Packaging Africa, along with Marble Head Investments.