SA Rugby magazine

South African rugby news, interviews, videos and more. Covering the Springboks, Bulls, Stormers, Sharks, Cheetahs and Lions, as well as schools and club rugby.

Primary Menu Search
  • Home
  • Match Centre
  • Vodacom URC
  • Videos
  • Cars
    • Cheap cars for sale
    • Used Cars For Sale
    • New Cars For Sale
    • Demo Cars For Sale
  • Deals
    • One Day Deals
    • Nationwide Deals
      • Deals in Cape Town
      • Deals in Johannesburg
      • Deals in Durban
      • Deals in Pretoria
      • Deals in Port Elizabeth
    • Accommodation Deals
    • Romantic Getaways
    • Food and Drink Deals
    • Experiences
    • Health and Wellness Deals
    • Beauty and Spa Deals
  • BLACKOUT RUGBY MANAGER
You are here: Home ∼ Marais accused of deliberately stalling new WP equity deal

Marais accused of deliberately stalling new WP equity deal

Zelt Marais Western Province Rugby Zelt Marais court
Published on September 28, 2021

Western Province Professional Rugby chairman Ebrahim Rasool has accused union president Zelt Marais of sitting on a potential equity deal for the past six months.

Rasool has revealed to Rugby365.com that he had potentially secured another equity deal in excess of R100 million for a stake in Western Province Professional Rugby, but a failure to act by Marais has halted proceedings.

According to Rasool, the potential investor has substantial investments in other sporting teams, especially rugby, and is dedicated to sports investments.

Rasool had reportedly introduced the equity partner to Marais. But it took Marais two months to further any discussion, and another few months before WPRFU signed a non-disclosure agreement.

Rasool says that to this day no definitive negotiations have taken place, due to Marais’ stalling tactics.

“In April already I introduced the president, Zelt Marais, to an investor from Hong Kong,” Rasool told the website.

“He [the investor] owns rugby teams and is dedicated to sports investment. He wants to have equity in WPRFU.

“It took some time to get to a non-disclosure agreement, yet till this day – nearly six months later – no definitive negotiations have taken place,” Rasool said.

“I would happily ‘extend’ my mandate again to ensure WPRFU does not lose this equity investor – again – as was the case with MVM.

“The same, with my involvement in the attempted settlement with Flyt/Dream World and the agreement with Staytus.

“I would rather be crucified for doing the right thing in the wrong way, rather than doing nothing in the face of a crisis.

“Here is a potential ZAR100-million-plus investment that has been waiting for six months for the shareholder, and Mr Marais to act, but without any joy.”

On Monday, it was reported that SA Rugby is planning its takeover of financially unstable WPRFU and putting measures in place to ensure there can be no legal challenges should a decision be made to place the union under administration.

Photo: Archive

Posted in News, Stormers, Top headlines Tagged ebrahim rasool, NEWS, Western Province, wp rugby, Zelt Marais

Post by SA Rugby magazine

SA Rugby magazine

Check out Blackout Rugby Manager HERE!

← Previous Next →

Sevens’ party falls flat

World Rugby shouldn’t have messed with a winning sevens formula, writes SIMON...

Draining format clogs Blitzboks’ blockage

A protracted schedule took the wind out of South Africa's sails at...

England cut Eddie, Razor to stop the bleeding

England have made the rash decision to part ways with coach Eddie...

Rassie ref hom in die rooi

Rassie Erasmus is hardly the embarrassment that some are making him out...

Cut and paste Kurt-Lee for Kolbe

Kurt-Lee Arendse ticks all the right boxes to replace the injured Cheslin...

Rassie auditions for England job

Rassie Erasmus has made the most calculated of public job applications to...

Boks need to make mentality adjustment

The Springboks need to lose their underdog mentality, writes SIMNIKIWE XABANISA in...

Kolbe’s worth every penny

Cheslin Kolbe’s big-money move to Toulon should be welcomed as a massive...

‘Bok gameplan, when executed correctly, is hard to match’

The opportunity to play against the All Blacks is a career highlight...

Five key areas the Boks need to dominate for first victory

SA Rugby magazine highlights five crucial areas the Boks will need to...

Top six: Best and worst foreign imports

SARugbymag.co.za identifies six of the best and worst foreign players to play...

Column: When context is needed

As highlighted by the Argentina controversy, ‘cancel culture’ needs a spoonful of...

Dark cloud hangs over WP Rugby

The problems at Western Province Rugby are layered, and everyone involved needs...

From the mag: Foreign Favourites

As Vodacom Super Rugby turned 25 this year, JON CARDINELLI picks an...

Bulls rookies to watch

After a massive exodus of players the Vodacom Bulls will be eager...

Analysis: The new suffocate-and-strangle game

For the Boks to emerge as World Cup winners, they need to...

VIEW MORE
  • Bonus-point Bulls douse Dragons
  • Munster maul luckless Lions
  • Stormers sign off 2022 in style
  • Sharks carve Bulls on New Year’s Eve

Jacques Burger’s Perfect XV

    BKT United Rugby Championship, Scotstoun, Glasgow, Scotland 8/1/2023 Glasgow Warriors vs DHL Stormers Stormers' Damian Willemse Mandatory Credit ©INPHO/Craig Watson
  • Highlights: Heartbreak for Stormers in Glasgow thriller

###


COVID-19 Corona Virus
South African Resource Portal

African Insider
African Insider News

ABOUT

  • Contact us
  • Competitions
  • Videos
  • Player Features
  • Subscribe
  • Terms and conditions
  • Privacy Policy

TOURNAMENTS

    • Rugby Championship
    • Super Rugby
    • Currie Cup
    • Varsity Cup
    • Gold Cup
    • Schools
    • Six Nations
    • Champions Cup
    • World Cup
    • Challenge Cup

OPINION

  • Mallett on SuperSport
  • Cardinelli column
  • Lewis column
  • Xabanisa column
  • Borchardt column
  • Superbru

Primary Menu

  • Home
  • Match Centre
  • Vodacom URC
  • Videos
  • Cars
    • Cheap cars for sale
    • Used Cars For Sale
    • New Cars For Sale
    • Demo Cars For Sale
  • Deals
    • One Day Deals
    • Nationwide Deals
      • Deals in Cape Town
      • Deals in Johannesburg
      • Deals in Durban
      • Deals in Pretoria
      • Deals in Port Elizabeth
    • Accommodation Deals
    • Romantic Getaways
    • Food and Drink Deals
    • Experiences
    • Health and Wellness Deals
    • Beauty and Spa Deals
  • BLACKOUT RUGBY MANAGER