Stormers head coach John Dobson has welcomed the conclusion of the Red Disa equity deal, saying that it marks the start of an exciting new chapter for the teams, fans and rugby in the Western Cape.
Following a majority vote in favour of the deal by the clubs that make up the Western Province Rugby Football Union (WPRFU) General Council in August, and approval by the South African Competition Commission in December, the equity deal for 74% shareholding in WPPR was concluded on Wednesday.
The consortium is made up of Cape Town-based investment holding company Fynbos Ekwiteit and Ardagh Glass Packaging, a global business with close ties to South Africa.
A Kaapse investment company of Andre van der Veen, Marble Head Investments, completes the group.
Dobson tells Stormers media: “We are all really looking forward to this new chapter and taking our organisation forward together.
“The Red Disa Consortium clearly has the best interests of our team and their supporters at heart and hopefully we can build on the strong foundation that we enjoy given the considerable strength of rugby in the region and the passion that our wider community has for the game.”
SA Rugby’s appointed administrator of the WPRFU, Peter Jooste, reckons that this deal will ensure the strength of WP rugby well into the future.
The Red Disa Consortium has this week concluded its equity deal to secure a controlling shareholding in WP Professional Rugby (Pty) Ltd.https://t.co/9KkU4qgLRv
— DHL Stormers (@THESTORMERS) March 20, 2024
He adds: “We have every reason to be excited about what the future holds as we start this new chapter.”
Meanwhile, Fynbos Ekwiteit CEO Johan le Roux promises to add value in every way they can now that the deal is done and dusted.
He says: “As we have said from the start of this process, we are people with a deep love and appreciation for this team and those who support them so passionately.
“The work starts now to elevate our commercial programme and the professional rugby team to the force it should be, both on and off the field.”