Saracens Close In On South African Deal
Guinness Premiership rugby union club Saracens is reportedly close to confirming a multi-million pound cash injection from a South African investment firm.
South African Investments Limited (SAIL), which already has joint ownership of South African club sides the Blue Bulls and Western Province, has been heavily linked with a major investment in Saracens.
The deal, which is likely to be finalised in the next 6 weeks, is likely to enable player swaps between the South African provinces and Saracens.
SAIL chief executive Brand de Villiers was quoted as saying: ‘We hope Saracens will become a home away from home for South Africans in Britain. There is a big South African rugby market in Britain.”
Saracens confirmed that negotiations with a South African company are ongoing.
Chairman Nigel Wray stated: ‘We are in discussions but from my own personal experience of such deals, they are never done until all the documents are signed – some happen, some don’t.
‘The discussions involve an investment and not a sale of shares. Any potential deal will not affect the ownership or control of Saracens and both I and the board of directors remain fully committed to the club and taking us forward.’
Reports surfaced last week that Saracens were in negotiations with South African businessman Johann Rupert with regard to a £10m investment into Premier Team Holdings, the company that controls the club.
