Mamelodi Sundowns owner Patrice Motsepe has acquired a 37 percent equity stake in the Blue Bulls, South Africa’s most successful Super Rugby team to add to his successful and growing sport empire in the country.
The new structure will mean that existing shareholders Remgro and the Blue Bulls Rugby Union (BBRU) reduce their previously equal percentage of shareholding from 50% each to 37% and 26% respectively, allowing Motsepe to buy in the remaining 37%.
The mining magnate who is one of the richest man in South Africa muscled in with his considerable financial weight‚ to claim a key stake in the country’s best performing rugby team, adding to his sporting interests as he already owns current national champions and 2016 Caf Champions League winners Mamelodi Sundowns.
Blue Bulls Company (BBCo) chief executive officer Alfons Meyer said the deal will benefit the union in many ways.
“This is a brilliant deal‚ not only just for us at the BBCo‚ but for our community and the sporting industry in general. We are privileged and excited to have partners like Mr Motsepe in our corner ”
“I’m looking forward to a host of synergies and opportunities that’ll be forged between us. With Mr Motsepe also owning soccer giants Mamelodi Sundowns‚ there’s no doubt that a relationship like this will further enhance and entrench our vision to make Tshwane the sporting capital.” Meyer said.
The Blue Bulls are South Africa’s only multiple winner of the prestigious Super Rugby competition, which includes teams from New Zealand, Australia, Japan and Argentina and have won three Super Rugby titles in 2007‚ 2009 and 2010.
Mamelodi Sundowns are South Africa’s most successful team from a league perspective with nine PSL titles.
By Gerald Dandah