R1.4 billion sponsorship deal in the works for World Champion Springboks

R1.4 billion sponsorship deal in the works for World Champion Springboks

The Ackerley Sports Group revealed that they are in negotiations with the South African Rugby Union over a lucrative sponsorship deal.

In a press release on Thursday, Ackerley revealed that they would potentially take a significant minority interest in a newly formed Commercial Right Corporation, which will hold all current and future revenue-generating assets of the Springboks and SARU. Meanwhile, SARU will be the majority owner of the CRC.

The deal is worth a reported £60 million, though the details are still being ironed out in the boardroom.

"We are excited to partner with a legendary global sports franchise like the Springboks," said co-founder Ted Ackerley.

"Our collaboration will establish a world-wide expansion of the most iconic brand in rugby. This investment in the Springboks represents a unique opportunity for us to match the on-field success of the team with the resources needed to establish and sustain the franchise as a global powerhouse. We will bring decades of experience and passion for excellence with us while listening carefully to the people of South Africa to ensure that this team continues to reflect the history and culture of this amazing country."

The Ackerley Group and its partners have a history of investing in professional sports teams, including the NBA's Seattle Supersonics, the NHL's Seattle Kraken and the group currently has majority control of the Leeds United Football Club.

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