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Le Roux: Newlands debt doesn’t affect Stormers

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Johan le Roux, one of the DHL Stormers’ new equity partners, said that the Red Disa consortium is helping to bring financial stability to Western Province professional rugby.

The consortium, made up of Cape Town-based investment holding company Fynbos Ekwiteit along with Marble Head Investments and Ardagh Glass Packaging, last week completed the equity deal for 74% shareholding in WP Professional Rugby Ltd.

Le Roux clarified the division between WP Ltd and WPRFU, highlighting the commercial intricacies that once clouded Cape Town rugby.Appreciate the beauty of Cape Town with a 60-minute cruise for R155 . Get itHe said Red Disa’s investment focuses solely on the company , which owns crucial assets like trademarks and intellectual property necessary for team management.

The debt, Le Roux explains, is now secured against all of the union’s properties by Flyt Property Investment, and will be handled by SARU-appointed administrator Peter Jooste.

 

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Le Roux: Newlands debt doesn't affect StormersJohan le Roux, one of the DHL Stormers’ new equity partners, said that the Red Disa consortium is helping to bring financial stability to Western Province professional rugby.
Source: SARugbymag - 🏆 33. / 51 Read more »