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Red Disa’s equity deal in securing a controlling shareholding in WP Professional Rugby Pty Ltd was this week approved by the South African Competition Commission.
DHL Stormers coach John Dobson delighted in the news, saying ‘it felt like Christmas had come early for the players, management, coaches and supporters of rugby in the Western Province’.
“It is a huge moment for rugby in our province and for the DHL Stormers and Western Province professional teams,” said Dobson.
“It finally feels real now that the Competition Commission has ruled on the deal, and it could not have come in a more appropriate week,” said Dobson, referencing the DHL Stormers Investec Champions Cup match against defending champions La Rochelle of France.
“These are historic moments in our rugby history in this province. Red Disa’s ownership is vital for the financial future of our rugby and I look forward to working with the new ownership, with our primary ambition our desire to create the most innovative and exciting club rugby brand in the world, as we strive to marry on field excellence and performance with the best business practices off the field.”
The DHL Stormers will play at the DHL Stadium for the first time this season in the first ever clash with La Rochelle, which Dobson described as another of those historic moments that spoke to the new era of the DHL Stormers.
READ MORE: Red Disa the perfect fit for WP Rugby
“We hosted six successive Vodacom United Rugby Championship play-off matches at the DHL Stadium, including two successive finals, with last season’s final against Munster played in front of a tournament record 56 600 crowd. We also hosted the last 16 of the Champions Cup.
“Now we get to host the defending Champions Cup champions, whose squad is stacked with world-class players. It is going to be massive and the setting could not be more ideal for us, with the kick-off at 15.00 on Saturday, with glorious sunshine expected,” said Dobson.
“We want to make everyone proud and we want to give our new owners and wonderful supporters a win against the best team in Europe.”
The Clubs that constitute the Western Province Rugby Football Union (WPRFU) General Council, on the 30 August, voted by a significant majority in favour of Red Disa’s equity deal of 74 percent ownership. The WPRFU retains the remaining 26 percent.
The Red Disa consortium is made up of Cape Town-based investment holding company Fynbos Ekwiteit and Ardagh Glass Packaging, a global business with a strong South African presence. The Cape-based personal investment company of Andre van der Veen, Marble Head Investments, completes the consortium.
Fynbos Ekwiteit’s Johan le Roux reiterated the company’s excitement at the investment into the DHL Stormers and WP Rugby.
“As Capetonians and lifelong fans of WP Rugby and the Stormers, we know what this team means to the people of this province and our investment will only make for a stronger rugby offering in our pursuit to be a world leader in the game,’ said Le Roux. ‘The Competition Commission’s approval is fantastic news and we are in the process of finalising administrative details with SA Rugby.”
Paul Curnow, CEO of Ardagh Glass Packaging: “Africa, expressed his delight in the Competition Commission’s decision, the ambition to make the DHL Stormers the best in the sport and he also reiterated Ardagh’s many initiatives in South Africa, which includes the expansion of capacity in the Nigel facility, the ‘money4glass’ recycling programme, the new Employee Share Ownership Plan and the establishment of the Africa IT Centre of Excellence in Cape Town.”
*Red Disa consortium:
Fynbos Ekwiteit is a Cape Town based investment holding company. The economic rights of Fynbos Ekwiteit vest in Fynbos Trust, which was settled by Capitec founder Michiel le Roux. The purpose of the Fynbos Trust is to contribute to the advancement of South Africa, the advancement of South African sport, culture, religion, education and other interests of South Africans, the protection and advancement of South African animals and vegetation, Afrikaans as a language, and the advancement of the interests of humanity in whichever way or wherever in the world it may be possible.
Ardagh Glass Packaging is the leading glass packaging company in South Africa, employing almost 2,000 people, and with production facilities in Johannesburg and Cape Town.
Marble Head Investments is the personal investment company of André van der Veen, based in Stellenbosch. André previously served on the board of WPPR where he worked closely with John Dobson on the board’s rugby subcommittee and had oversight of the company’s finances.
Photo: Shaun Roy/BackpagePix
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