WP Rugby completes equity deal as ‘new chapter’ starts in Cape Town

John Dobson. (Photo By Tyler Miller/Sportsfile via Getty Images)

• Red Disa Consortium has completed its equity deal with Western Province Rugby. 
• The Cape-based investment company now has a controlling stake in the union. 
• It is understood that WP Rugby will receive an initial injection of R148 million for the deal. 
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Western Province Rugby confirmed on Wednesday that it has concluded its equity deal with the Red Disa Consortium, giving controlling shareholding to the Cape Town-based investment company. 

The deal has been months in the making after the union’s clubs that constitute the Western Province Rugby Football Union (WPRFU) General Council in August voted in favour of the deal, which results in Red Disa acquiring a 74% shareholding in WP Professional Rugby (Pty) Ltd (WPPR).

The Red Disa consortium is made up of investment holding company Fynbos Ekwiteit and Ardagh Glass Packaging, a global business with a strong South African presence. The Cape-based personal investment company of Andre van der Veen, Marble Head Investments, completes the consortium.

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It is understood that Wednesday’s confirmation will see an initial injection of R148 million come into the Western Province coffers. 

Stormers coach John Dobson welcomed the conclusion of the deal.

“We are all really looking forward to this new chapter and taking our organisation forward together,” he said. 

“The Red Disa Consortium clearly has the best interests of our team and their supporters at heart and hopefully we can build on the strong foundation that we enjoy given the considerable strength of rugby in the region and the passion that our wider community has for the game.”

The SARU-appointed Administrator of the WPRFU, Peter Jooste, felt the deal would ensure the strength of Western Province Rugby into the future.

“We have every reason to be excited about what the future holds as we start this new chapter,” he said.

Fynbos Ekwiteit’s Johan le Roux, meanwhile, spoke about the good intentions he has in nurturing the union into a position of power and sustainability. 

“As we have said from the start of this process, we are people with a deep love and appreciation for this team and those who support them so passionately,” he said. 

“With all of the formalities out of the way, the work starts now to elevate our commercial programme and the professional rugby team to the force it should be, both on and off the field.”

Paul Curnow, CEO of Ardagh Glass Packaging–Africa, also expressed his satisfaction at the deal’s finality. 

“We actively look to work with like-minded partners to extend the reach and broaden the impact of our development work in local communities and we are excited to note that a key focus for this partnership will be the ongoing identification, development, and retention of local talent,” he said.