Ackerley Sports Group LLC will pursue a new deal for the commercial rights to the world champion Springboks rugby team after an initial bid for the South African organization failed. <\/p>\n\n\n\n
The Seattle-based group, which cited support for its efforts from South African sports minister Gayton McKenzie, said it will work with a professional adviser and will engage with any \u201capproved South African consortium\u201d to revive the deal. <\/p>\n\n\n\n
The rugby group is at risk of financial collapse unless it bolsters its revenue by emulating rivals such as New Zealand\u2019s All Blacks, which has concluded a private equity deal, according to SA Rugby President Mark Alexander. <\/p>\n\n\n\n
Ackerley\u2019s exclusive negotiating period with SA Rugby lapsed at the end of last year. <\/p>\n\n\n\n
That was weeks after its $75 million, R1.4 billion per current exchange rates, bid for a 20% stake in an SA Rugby commercial rights company and effective control of its board failed to win support from the South African group\u2019s member unions. <\/p>\n\n\n\n
\u201cASG remains confident that its strategic value-creation plan should and will be part of any new proposal,\u201d Chris and Ted Ackerley, the brothers who founded ASG, said in a statement on Monday. <\/p>\n\n\n\n
Ackerley wants to ensure that \u201cany future plan is both effective and takes into account the needs of the member unions,\u201d they said.<\/p>\n\n\n\n
Prior to the vote on the ASG proposal, unions linked to South Africa\u2019s richest men objected to it, the nation\u2019s sports minister called for a postponement to the decision and local newspapers reported that a rival bid was being prepared. <\/p>\n\n\n\n
\u201cThis vote derailed the efforts that we have made to globalize and commercialize the Springboks,\u201d ASG said. \u201cFurthermore, and importantly, this result has placed SARU back into financial peril,\u201d it said, referring to the South African Rugby Union.<\/p>\n\n\n\n
ASG, which said it had offered to include 50% South African involvement in its final proposal, indicated that McKenzie supports its continued involvement. <\/p>\n\n\n\n
\u201cWe must find ways to actually engage and partner with well-capitalized financial institutions \u2013 who know the business of sports \u2013 to bring our great teams and athletes to the international sports landscape,\u201d McKenzie was cited as saying in the ASG statement. <\/p>\n\n\n\n
\u201cThe Ackerley Sports Group has shown, in their efforts to partner with SARU and its members, the insight and financial expertise our sports teams and leaders need.\u201d<\/p>\n\n\n\n
McKenzie and his spokesman didn\u2019t answer calls to their mobile phones. <\/p>\n\n\n\n
The Ackerley family has owned stakes in several sports franchises including Seattle SuperSonics and Seattle Storm in basketball, the Seattle Seadogs in soccer and the Seattle Kraken hockey team. <\/p>\n\n\n\n
In 2023 a private holding company for the family bought a minority stake in England\u2019s Leeds United Football Club.<\/p>\n\n\n\n
The Springboks have won the World Cup a record four times, gaining global recognition. The team, once an emblem of apartheid, has been held up as an example of successful transformation. <\/p>\n\n\n\n
Netwerk24 reported Ackerley\u2019s intention to pursue a partnership earlier. <\/p>\n\n\n\n