The Lions’ disappointment at missing out on the Absa Currie Cup semi-finals was eased by the news that they will play in the Vodacom Super 14 next year.
SA Rugby has confirmed the acceptance of an offer to purchase 24.9% of the share capital in the commercial arms of Border and SWD. A similar offer was made to purchase the same shareholding in the commercial arm of Eastern Province.
These shares are currently held by Sail.
Saru vice president Koos Basson said SA Rugby was also successful in the purchasing of an additional 25.1% share capital in the commercial arms of Border and SWD, resulting in SA Rugby holding 50% of the share capital of Border and SWD. A similar offer was made to EP who must still inform SA Rugby of its decision.
SA Rugby now has the power to withdraw the Spears from the Super 14.
Brand de Villiers, CEO of Sail, said: â€œThe transaction was made in the best interest of South African rugby, and on condition that certain suspensive conditions are fulfilled by both entities by 15 October.â€
Basson added: â€œThis important investment is a very clear indication that SA Rugby is serious with its efforts to help the three unions in its bid to gain sound financial stability. We recently announced the building of a top-class rugby institute in Alicedale and will soon announce another initiative to further assist the region.â€