A governance review by an independent audit firm is being commissioned by SA Rugby.
Rugby’s governing body says it’s to assure stakeholders that governance requirements were adhered to in relation to a proposed equity transaction.
The Executive Council of SA Rugby met to discuss stakeholder concerns raised by media reports around technicalities relating to the transaction.
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The reports related to the proposed investment by the ASG Group into the commercial rights of SA Rugby. The proposal failed to meet the 75% threshold it required to receive approval of the General Council in December.
The recent questioning related to the establishment of a company, Win by One (Pty) Ltd in South Africa, and the sub-division of the fee that would have been payable to the international brokers who worked on the deal.
According to a SA Rugby statement, the independent review will be focused on both elements.
Further information will be provided on conclusion of the governance review.
