IPEM Cannes 2024 – The Daily Spin – January, 25th
The shifting role of LPs was the overarching theme for the morning session of Day 2, at the 10th edition of IPEM in Cannes. After a full day of yoga,…
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Trophy Asset
South Africa Rugby is hoping to land a conversion of a different kind, as it prepares to sell part of its commercial rights – valued at $375 million – in a private equity deal.
The deal in question will involve selling a 20% stake to Ackerley Sports Group, a Seattle-based private equity firm, who beat CVC Capital Partners to the try line in December. The investment is designed to help South African rugby double its sponsorship revenue by the next World Cup in 2027. The rough and tumble world of professional rugby has once again proved alluring to the polished boardrooms of private equity. Will the deal prove to be a winning strategy? And become a veritable Boks of Delights? We shall see. In the meantime, SA Rugby will be scrumming down and setting up a company to hold the commercial rights. With Spring just around the corner, the Boks will be hoping to celebrate once again…this time, off the field.
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