Western Province Rugby has announced that it’s general council will present an equity deal to the union’s primary club stakeholders.
It says it is an equity deal that will “ensure the brightest future for professional and community rugby in the province.”
The proposed deal is with ‘Red Disa Investment’, which, according to WP, is made up of “local and international partners”.
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Their intended involvement with WP Rugby would strengthen the position of the DHL Stormers in the Vodacom United Rugby Championship and the Champions Cup, and that of DHL Western Province in the Currie Cup.
“The equity deal will financially secure grassroots rugby and reinforce the nurturing of talent straight through to the professional teams,” said a WP Rugby statement. “The equity partners understand the success of WP Rugby is in the strength of the diverse communities that define the uniqueness of the province. The deal will also create an environment in which the DHL Stormers and DHL WP supporters can expect the professional teams to be title contenders in all competitions because the equity investment will provide the necessary resources to compete with the best clubs in world rugby.”
The proposed equity deal comes with a SA Rugby recommendation, with the governing body, as the custodian of WP Rugby whilst under administration, driving this process.