for subscribers

Side Entry | Investor interest in Stormers hints at a light at the end of the rugby tunnel

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!
The news that the Stormers have a would-be majority equity suitor in the form of New York-based South African expat Marco Masotti is proof that the financial carnage currently ripping through our rugby hasn’t chased investors away entirely.
The news that the Stormers have a would-be majority equity suitor in the form of New York-based South African expat Marco Masotti is proof that the financial carnage currently ripping through our rugby hasn’t chased investors away entirely.

Now may not be the time to say it – unless you’re in the personal protective equipment tender industry, of course – but there may well be light at the end of the tunnel for South African rugby when Covid-19 is finally brought under control.

The news that the Stormers have a would-be majority equity suitor in the form of New York-based South African expat Marco Masotti is proof that the financial carnage currently ripping through our rugby hasn’t chased investors away entirely.

In customary fashion, the Western Province hierarchy is finding a way to obfuscate things, the union – which recently borrowed R112 million to pay off its debts – quibbling about giving lawyer Masotti, who comes bearing an investment of almost R100 million, the 51% majority shareholding he seeks to look after his outlay.

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in

E-Editions

All your favourite publications in one place.
Read now
Voting Booth
What are you doing to celebrate Heritage Day?
Please select an option Oops! Something went wrong, please try again later.
Results
Nothing, locking it down
59% - 71 votes
It's braai day
35% - 42 votes
The Jerusalema dance
7% - 8 votes
Vote