PORT ELIZABETH – A consortium of Eastern Cape business people has acquired a controlling interest in the Isuzu Southern Kings rugby franchise, SA Rugby confirmed on Friday.
SA Rugby sold a 74 percent shareholding in SA Super Rugby (Pty) Ltd, the Isuzu Southern Kings’ holding company, to a company called The Greatest Rugby Company in the Whole Wide World (Pty) Ltd (GRC).
The Eastern Province Rugby Union (EPRU) has acquired the balance of 26 percent of the shares.
The deal was recently completed following the conclusion of the agreement on the commercial terms. SA Rugby had taken control of the Isuzu Southern Kings in November 2015 when the EPRU, to whom the operation of the franchise had been granted, ran into financial trouble.
“We are delighted to have concluded the sale,” said Jurie Roux, SA Rugby CEO.