Properly-known South African expertise entrepreneur Stafford Masie is among the key backers behind an audacious bid to purchase a stake of as much as 40% within the South African Rugby Union (Saru)-owned entity that owns the business rights to the Springboks.
Masie, who chairs JSE-listed Altvest Capital – a key participant within the consortium making the bid – joins the TechCentral Present with Altvest CEO Warren Wheatley to unpack the plan and what spurred it, and to elucidate why tech is central to the bid.
The bid comes after member unions of SA Rugby final week rejected a plan to promote a 20% within the business rightsholder to US-based Ackerley Sports activities Group for US$75-million. Ackerley has till the tip of the yr to submit a revised supply, however Wheatley and Masie advised TechCentral that they don’t anticipate a cope with the American agency will succeed.
The South African consortium is made up of Altvest in addition to EasyEquities, RainFin and 27four Funding Managers.
In an announcement, the consortium defined that if its bid is profitable, it’s going to listing the particular function automobile that has been created to do the deal on the JSE and permit buyers to purchase shares.
This isn’t dissimilar to Altvest’s enterprise mannequin, which sees it taking stakes in firms on behalf of public shareholders who take part within the financial advantages thereof.
Expertise
On this episode of TCS, Masie and Wheatley discuss:
- The background to their consortium’s Springboks bid – and why the consortium members got here collectively;
- How the bidders will work with SA Rugby to commercialise the rights, assuming their bid is profitable;
- How the deal may have an effect on broadcast companions; and
- Why they imagine the deal may very well be used as a platform for expertise innovation in South Africa.
It’s an fascinating dialogue. What do you make of the bid — go away a remark beneath…
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