Blue Bulls officially welcome Patrice Motsepe as shareholder
The Blue Bulls have officially announced their highly anticipated deal to bring Mamelodi Sundowns Chairman Patrice Motsepe on board.
Motsepe is among the wealthiest people in South Africa and he has taken a vested interest in sport, particularly in Tshwane. The deal is expected to enhance the relationship between the City’s two favourite sporting entities the Bulls and Sundowns.
The sky is the limit for new Blue Bulls shareholder Motsepe
The 57-year-old mining mogul has acquired a 37% stake in the organization with existing shareholders Remgro and the Blue Bulls Rugby Union (BBRU) reducing their previously equal percentage of shareholding from 50% each to 37% and 26% respectively.
Remgro are an investment group chaired by noted South African billionaire Johan Rupert, who is one of just three people with a greater net worth than Motsepe.
From a purely business point of view the deal is something of a coup for the Blue Bulls who remain among South African rugby’s most marketable brands.
The Blue Bulls are hopeful that their business dealings will translate into greater success on the field and enable the team to do more for its fans and the community.
President of the BBRU, Willem Strauss expressed his delight with the deal:
“We put a lot of effort into making this possible over the last few months, and I am proud to say that all the union committee members unanimously voted in favour of the deal. I firmly believe that private investors will add immense value to our beautiful game going forward. The benefits of this deal is not only to the BBCo at the professional level, but it will also make a positive impact on our amateur rugby, at schools, clubs and development levels. We are privileged and excited to have partners like Mr Motsepe in our corner”
Motsepe has jumped onto the vision of turning Tshwane into a sporting capital in South Africa a vision shared by the Blue Bulls organization.
Alfons Meyer, CEO of the BBCo is looking forward to the synergies that the new partnership brings: “This is a brilliant deal, not only for us at the BBCo, but also for our communities and the sport industry in general. I look forward to a host of synergies and opportunities that will be forged between us. With Mr Motsepe also owning soccer giants Mamelodi Sundowns, there is no doubt that a relationship like this will further enhance and entrench our vision to make Tshwane the sporting capital.”
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