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Ackerley's exclusivity period for SA Rugby stake bid ends

SA Rugby's union members last month rejected its plan to sell a 20% share in a newly created commercial-rights company for $75 million to the Seattle-based company.
The exclusivity period for Ackerley Sports Group's bid to acquire a 74% stake in SA Rugby's commercial arm has concluded without a definitive agreement being reached. This development leaves the door open for other potential investors to engage with SA Rugby. The negotiations, which began in November 2023, aimed at securing a significant investment to bolster the financial stability and growth of South African rugby. Despite the end of the exclusivity period, discussions between SA Rugby and Ackerley Sports Group are ongoing, with both parties expressing a commitment to finding a mutually beneficial arrangement. This situation underscores the complexities involved in major sports investments and the strategic importance of securing the right partnership for SA Rugby's future.

Read the Full Moneyweb Article at:
[ https://www.moneyweb.co.za/news/south-africa/ackerleys-exclusivity-period-for-sa-rugby-stake-bid-ends/ ]