WP Rugby commits to continuing negotiations with US investor

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Zelt Marais (Getty)
Zelt Marais (Getty)

The Western Province Rugby Football Union (WPRFU) confirmed that they have met with American investment consortium, MVM Holdings and will continue to negotiate a proposed deal.

New WPRFU chairperson, Ebrahim Rasool, and Zelt Marais, WPRFU President, met with Marco Masotti, head of MVM consortium and Michael Yormark, President of Roc Nation and a member of the consortium.

"We had a very productive meeting of the minds and cleared up all the misunderstandings we had before," said Marais in a statement on Saturday. 

"WPRFU agreed a negotiations framework with MVM that is based on mutual respect and appreciation. We are pursuing an investment partner that will help us to strengthen Western Province Rugby and make it the leading global brand that retains and attracts the best talent.”

Masotti also confirmed the meeting. 

“The outcome of the meeting was very positive, and we are happy to be continuing our negotiations," he said.

We are confident that we can reach an amicable deal that serves the best interest of all parties – including the players, the fans, the clubs and the broader community. Most importantly, we are working towards a true partnership with the WPRFU so we can leverage our investment and our expertise to further develop a fantastic global brand.”

- WP Rugby

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