Lions make peace with Gumede and co
3 May 2012
The Lions have reached an out-of-court settlement deal with former potential equity partners the Guma Tac Group.
Robert Gumede and Ivor Ichikowitz’s Guma Tac Group issued an application to liquidate the Golden Lions Rugby Union (GLRU) after their partnership was officially terminated in January, shortly before the company aimed to purchase a 49.9% stake in the union.
The former believed the GLRU was ‘hopelessly insolvent, both factually and commercially’ and filed papers in the Johannesburg High Court. The Guma Tac Group argued that the union owed them in excess of R8 million and co-owner Ichikowitz more than R2 million.
At the time, GLRU president Kevin de Klerk denied that the union was bankrupt and said they were willing to repay Gumede and co. He also believed that the court papers were ‘filled with many half truths’.
On Thursday, acting GLRU CEO Ruben Moggee told The Times that a deal between the two parties was settled out of court.
‘Unfortunately, because it was an out-of-court settlement, I cannot divulge what that figure was. Both parties have to agree before that kind of information is made public,’ said Moggee.
15 Comments
3 May 2012, 14:16 pm
once were lions….
hehehe
thems the breaks…
3 May 2012, 19:24 pm
Pay as you go lions
3 May 2012, 20:26 pm
All of the future growth opportunities in SA rugby lie in attracting a new demographic to the sport. The potential is incredibly vast to the point that rugby can become the biggest sport in SA.
There’s been no attempt to reach out to the new middle class.
What is sidestepped in rugby & SA business in general is that transformation must take place at ownership level first & foremost. Window dressing is doomed to fail.
There have been repeated shams such as the loftus test vs Aus & one of the end of year tours under nick mallett. In their wake lay a few broken careers
3 May 2012, 20:34 pm
@viewer(viewer)-3:
I’ve been beating this drum for years. This is not transformation but just common sense.
3 May 2012, 21:44 pm
I am not even a Lions Supporter but I have to say that the poll you guys have set up is not fair at all. Looking at results you can ask wether they deserve it and each time it would be no, but throw in the words “more so than the Southern Kings” and my answer would be yes 100%.
The Southern Kings do not only not deserve to be there, they have no right. They can not even win a Vodacom Cup, nevermind a Currie Cup. Yes the Lions are embarrassing at the moment, but the Kings are nowhere and were handed a spot freely. Thats the truth of the matter
4 May 2012, 01:34 am
@Kapper(Kapper)-5:
Well said.
But don’t expect anything other than an orchestrated anti-Lions and pro-Kings PR campaign from keo and his cronies.
Surely you’ve visited this site long enough to know that keo’s integrity and objectivity makes The much-maligned Sun a bastion of level-headed journalism.
4 May 2012, 08:30 am
I post on sarugby.com and I can tell you there is not a single poster there who supports the inclusion of the queens next year at the expense of the Lions.
The queens have earned the contempt of the rugby community by coming through the backdoor using watsons political connections.
Lets face it there are Vodacom sides better than them and then there are sides like the Pumas, Leopards and Griguas who are more deserving.
If the queens dared to face the Lions in playoff (not that they deserve even that chance) they would get thrashed.
There is no ways any sane person can argue that the queens have earned a shot.They have not and everyone knows it. Watch also and see how many balck players are playing for them next year.
Wake up SARFU – you may find yourself being sued for putting in such a miserable team into the Super 15. Its not that you didnt know how pathetic they were! +Asking a vodacom side to play Super 15 rugby!!!!!!
Keo has obvioulsy fooled some folk with his bleats but beyond these walls I see scant support for the queens.
Keo I enjoy your articles for the most part but please understand that merit is the only yardstick. The queens have no merit in their case at all. ZIP.
Away with the queens!
4 May 2012, 08:32 am
@Beeno(Beeno)-7:
Howzit bru. Long time no see.
4 May 2012, 08:34 am
@Beeno(Beeno)-7:
It’s a case of political elitism. The Queens are the ANCYL of the rugby world. Sheeke’ Watson is Malema.
4 May 2012, 09:41 am
I see there is not much said by the usual load mouth queen supporters @Davidgetafix4urtrannieslappe. so much for your insolvency theory.
4 May 2012, 09:49 am
@Beeno(Beeno)-7:
Griquas, leopards and pumas already have a Franchise.
4 May 2012, 10:16 am
@David(David)-11:
In fact the Leopards and Pumas together with the Golden Lions are called the Lions. That wasn’t a good example.
4 May 2012, 10:31 am
@David(David)-12: admit that yuo are just a soccer troll.
4 May 2012, 10:37 am
@Wanderer(Wanderer)-13:
Far from it.
5 May 2012, 13:38 pm
@David(David)-14:
And EP had a frnachise with the Sharks…so reunite with them.
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