Stormy waters in the Shark Tank

 

The report, conducted by the brand’s auditing company KPMG, has been labeled as “potentially explosive”.

 

It is understood that the allegations revolve around unauthorised benefits being handed to at least one senior staff member, but  could spill over into other areas of the company.

 

The report is known to contain allegations of non-disclosure of benefits to people in the organisation.

 

Former CEO Brian van Zyl, who has since retired last year, called for the report to be made public as soon as possible.

 

“This uncertainty is not good for the players, the administration, and the staff who were there at the time the new management took over," Van Zyl told the Sunday Tribune.

 

"It’s almost as though we are being held to ransom, which is totally unfair.

 

"If the report has been released for heavens sake let’s know what is in there. Surely that’s not a lot to ask?”

 

Van Zyl, has been involved with the Sharks since 1994, added: “I believe I have been defamed. If I have, I am certainly not going to take any allegations lying down.”

 

The secrecy and delay in releasing the report is fueling suspicion that things are troubled at the Sharks.

 

It has been said that information could not be made public until the charges contained in the report had been put to the parties concerned.

 

The Sharks administrative heads have also confirmed that the investigative audit has been completed, but they are silent about any developments relating to it.

 

It appears that the financial matters under the microscope date back several years, before the new administration, that came in  last year under the leadership of former Sharks and Springbok captain John Smit.

 

Van Zyl has said that he had no idea what the investigation entailed.

 

As far as he was aware there had been a history of clean audits during his watch.

 

“I wish I knew what was going on but I was not at any meetings where these matters were discussed,” Van Zyl said.

 

Saying on Saturday that the process was at a “delicate” stage, Smit said: “I don’t think it is the right time to comment.”