SA Rugby take majority ownership in Kings

SA Rugby has purchased a 74% shareholding in the country’s Southern Kings franchise. The purchase means that SA Rugby is now responsible for the overall management of the Kings as they stare into an uncertain future.

The 74% share majority was previously in the hands of The Greatest Rugby Company in the Whole Wide World (GRC), who have failed to meet the contractual financial obligations, prompting SA Rugby to step in.

SA Director of Rugby, world cup-winning coach Rassie Erasmus, has reportedly been working with the Kings’ interim Director of Rugby Robbie Kempson.

Mark Alexander, president of SA Rugby, is not altogether positive about the move:

“I cannot stress enough how reluctant we are to resume control of the Isuzu Southern Kings.

“It is our last resort and we are keen to explore ways to return to the shareholding to another’s hands, in conjunction with the EPRU, the minority shareholder, who have given the required approval to the decision.

“The next step is to appoint a new board to oversee the franchise’s affairs and ensure the team is match ready for when we are able to resume playing.”

The Kings have struggled since entering the Pro14 tournament and occupied last place in Conference B before proceedings were halted as a result of Covid-19.