What has been a very good year for the Bulls and Blue Bulls at all levels, became even better on Thursday evening when the union committee unanimously approved the joint financial proposal by Remgro and African Rainbow Capital (ARC) which will give the two companies a controlling share of the Blue Bulls Company (BBCo).
It is not known what amounts the two billionaires heading the two concerns will pay for the controlling rights of the BBCo.
A media release about the new shareholding reads as follows while the Blue Bulls Rugby Union's Annual Report is elsewhere on this website:
The Blue Bulls Company is excited to welcome our new shareholder Patrice Motsepe to the #BullsFamily.
The much talked about and anticipated deal was unanimously concluded on Thursday evening at a meeting held at Loftus Versfeld.
The new structure will mean that existing shareholders Remgro and the Blue Bulls Rugby Union (BBRU) reduce their previously equal percentage of shareholding from 50% each to 37% and 26% respectively, allowing Motsepe to buy in owning the remaining 37%.
President of the BBRU, Willem Strauss expressed his delight with the new signing: “We put a lot of effort into making this possible over the last few months, and I am proud to say that all the union committee members unanimously voted in favor of the deal. I firmly believe that private investors will add immense value to our beautiful game going forward. The benefits of this deal is not only to the BBCo at the professional level, it will also make a positive impact on our amateur rugby, at schools, clubs and development levels. We are privileged and excited to have partners like Mr Motsepe in our corner”
Motsepe is undoubtedly a visionary in the business world and has often been quoted as saying, “If we continue doing the right things in Africa, we can create a very exciting and competitive global market here”. Among his many business ventures, he is also the owner of African soccer giants Mamelodi Sundowns, a team that also enjoys Loftus Versfeld as their home ground.
Alfons Meyer, CEO of the BBCo is looking forward to the synergies that the new partnership brings: “This is a brilliant deal, not only for us at the BBCo, but also for our communities and the sport industry in general. I look forward to a host of synergies and opportunities that will be forged between us. With Mr Motsepe also owning soccer giants Mamelodi Sundowns, there is no doubt that a relationship like this will further enhance and entrench our vision to make Tshwane the sporting capital.”