Conclusion of equity deal is additional spur for Stormers

The DHL Stormers will head into a clutch stage of their season against Edinburgh on Saturday with the additional spur of knowing that the red tape and finer details of their equity partnership with Red Disa have been concluded and it is now reality.

The Stormers play Edinburgh at the DHL Stadium on Saturday in the first of two important Vodacom United Rugby Championship clashes, with Ulster visiting the following week before the potentially seismic return of the European champions LaRochelle for the Investec Champions Cup round of 16 tie on 6 April. The Stormers will go into those games knowing they now officially do have an equity partner in the form of the Red Disa Consortium.

A Western Province Rugby press release announced on Wednesday that the Red Disa Consortium had this week concluded the deal to secure a controlling shareholding in WP Professional Rugby (Pty) Ltd following the majority vote by the clubs that constitute the WPRFU General Council in August last year. With the South African Competition Commission giving the 74 per cent shareholding the green light last December, there were still some formalities that needed to be completed and that has now been done.

The Red Disa consortium is made up of Cape Town based investment holding company Fynbos Ekwiteit and Ardagh Glass Packaging, a global business with a strong South African presence. The Cape based investment company of Andre van der Veen, Marble Head Investments, completes the consortium.

Stormers coach John Dobson welcomed the conclusion of the deal, saying that it marks the start of an exciting new chapter for professional rugby, the supporters and rugby in general in the Western Cape.

“We are really looking forward to the new chapter and taking our organisation forward together,” said Dobson.

“The Red Disa Consortium clearly has the best interests of our team and their supporters at heart and hopefully we can build on the strong foundation that we enjoy given the considerable strength of rugby in the region and the passion that our wider community have for the game.”

The South African Rugby Union appointed administrator of the WPRFU, Peter Jooste, said that the deal will ensure the strength of WP Rugby into the future.

“We have every reason to be excited about what the future holds as we start a new chapter,” said Jooste.

Fynbos Ekwiteit’s Johan le Roux expressed the consortium’s determination to add value in every way they can now that the deal has been concluded successfully.

“As we have said from the start of the process, we are people with a deep love and appreciation for this team and those who support them so passionately,” said le Roux.

“With all the formalities now out of the way, the work starts now to elevate our commercial programme and the professional rugby team to the force it should be both on and off the field.”