The South African Rugby Union (SARU), the governing body of the Spingboks, has received a $75 million investment from Ackerley Sports Group, subject to approval by the SARU members.
Why is this important? The business of Sports is becoming an emerging trend across the world, from football to Golf. Most of Africa has a strong affinity toward football, but rugby remains the dominant sport apart from cricket in South Africa.
- A new business venture will be created to secure all the Springboks and SARU's current and future revenue-generating assets while expanding its sponsorship, broadcasting, content and match-day revenue.
- In 2022, SARU posted revenue of 1.54 billion rands ($82 million). After a new commercial model was signed, its image rights increased from R50m budgeted to R76m. It also received an increase in sponsorship revenues of R56m.
- SARU had explored other funding opportunities, including talks with private equity firm CVC Capital Partners about an investment.