The Springboks, South Africa’s iconic men’s national team, won the 2023 Rugby World Cup, defeating New Zealand in the final. (Paul Harding/Getty Images)

The South African Rugby Union (SARU) governing body has announced that on October 17 its 14 provincial member unions will vote on whether or not to accept private equity investment into the body.

Should the vote prove successful, the Ackerley Sports Group private equity firm will buy into a new holding vehicle for SARU’s commercial rights. Ackerley Sports Group was selected as the preferred bidder in December 2023, with that news unveiled in early 2024.

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This vehicle would encompass the media rights, sponsorship, events hosting, and licensing aspects of the body among others, with the aim of securing the financial future of the rugby code in the country.

The vote will require a 75% majority, or 11 votes out of the 14 unions, to pass.

On pitch affairs around the SARU, for example, the hiring and selection of coaching and playing staff as well as the management of its competitions, will remain the SARU's responsibility.

Speaking on the announcement, South Africa Rugby chief executive Rian Oberholzer stated: “We are very pleased to have arrived at this point and believe we will be able to table an offer to our members that makes commercial and business sense.

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“Private investment will bring financial security as well as the capital investment and global experience and networks to enhance how we communicate, how we do things, and how we interact with our stakeholders.”

“Private investment has taken place in several of our member unions and is commonplace in global sport.”

Despite winning back-to-back Rugby World Cups in 2019 and 2023, South African rugby – much like the rest of the sport globally – is now having to deal with the effects of the waning financial power of rugby union, a factor that led fellow rugby superpower New Zealand to invite in private equity investment from firm Silver Lake in 2022.

Oberholzer continued: “This is a watershed moment for rugby in South Africa as we attempt to ‘globalize’ the Springbok brand in the way that our peers in New Zealand have.

“Our performances on the field have kept us near or at the front of the pack for several years, but we have been lagging off the field. This is our opportunity to catch up with our peers in that arena as well.”