JOURNAL ARTICLE

South African Rugby Unions Block Ackerley Private Equity Bid.

  • Published In: Bloomberg.com, 2024. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Naidoo, Prinesha; Vollgraaff, Rene 3 of 3

Abstract

South African Rugby Union members rejected a $75 million bid from Ackerley Sports Group LLC for a stake in the commercial rights of the national rugby team, the Springboks. A rival group, including AltVest Capital and EasyEquities, offered $375 million for a stake in the team's commercial rights, aiming to elevate the Springbok brand globally while allowing Saru to retain strategic control. The rejection of Ackerley's bid sparked controversy over potential loss of local control and concerns about the deal's benefits and lack of South African participation, with some of the nation's richest men and unions opposing it. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2024/12, pN.PAG
  • Document Type:Article
  • Subject Area:History
  • Publication Date:2024
  • Accession Number:181499142
  • Copyright Statement:Copyright of Bloomberg.com is the property of Bloomberg, L.P. and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Looking to go deeper into this topic? Look for more articles on EBSCOhost.