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Boland Rugby short of cash
08/02/2007 18:35 - (SA)
Cape Town - One of the joint curators of the Fidentia group met the directors of Boland Rugby on Thursday, as hopes of Fidentia's continued sponsorship of the union faded.
In a statement issued after the meeting, curator Dines Gihwala said it was the curators' intention to "preserve, protect and promote the best interest of Boland Rugby, their clubs and players".
"I am committed to the restructuring process of the Boland Rugby Union and Boland Rugby (Pty) Ltd, within the limits of my authority as curator," he said.
Earlier, he had been quoted as saying Fidentia's sponsorship agreements would be "at the back of the queue".
Fidentia was placed under provisional curatorship last week after the Financial Services Board told the Cape High Court that its inspectors could not account for R689m taken from Fidentia Asset Management accounts.
Boland chief executive Piet Bergh said after Thursday's meeting that without Fidentia, the union was looking for three to four million rands for the coming year.
This year was supposed to be the second year of a five-year sponsorship agreement with Fidentia.
Could look for another sponsor
"After the curator's meeting we had a separate board meeting," he said. "We decided to do a few things - maybe acquire another sponsorship."
However the union would pursue this only next week, as it still had to finalise the amount it needed and the terms of a new sponsorship.
The union had not approached anyone yet.
Asked whether Gihwala had promised anything, Bergh replied: "No. What he promised was in the statement. What actually came through is that we can't expect anything from him."
Referring to Gihwala's statement that he would protect Boland's interests, Bergh said he assumed this meant the curators would not "take anything away from us".
Jackie Abrahams, president of Boland Rugby Union and chair of Boland Rugby (Pty) Ltd stated: "I am satisfied with the outcome of today's meeting.
"I trust that the problems arising due to the non-performance of our sponsor will soon be behind us in order that everybody involved can commit their energy and attention to the very important rugby season ahead of us," he said.
Players and staff will do their utmost to enable Boland to achieve success in order that a sponsor could be obtained with whom it could form a long and lasting relationship.
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Rugby
