Cape Town — Mining magnate Patrice Motsepe has sealed the deal and now owns equal majority shares of the Blue Bulls Company .
Last month, it was reported that Remgro boss Johann Rupert and Motsepe were looking to make a joint offer to gain a majority share.
However, the Blue Bulls Company have confirmed on Friday that existing shareholders Remgro and the Blue Bulls Rugby Union (BBRU) have reduced their previously equal percentage of shareholding from 50% each to 37% and 26% respectively.
The deal was unanimously concluded on Thursday at a meeting held at Loftus Versfeld, which sees Motsepe owning the remaining 37% of the Pretoria-franchise.
Motsepe is undoubtedly a visionary in the business world and has often been quoted as saying, "If we continue doing the right things in Africa, we can create a very exciting and competitive global market here."
He is well-known as the owner of Absa Premiership glamour club Mamelodi Sundowns, who often play their home games at Loftus Versfeld, the Bulls' headquarters.
President of the BBRU, Willem Strauss expressed his delight with the new signing:
"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 favor 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, 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 Motsepe in our corner."
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 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."
- Compiled by Lynn Butler
Vodacom Bulls latest signing... Welcome to the #BullsFamily Patrice Motsepe. Read more https://t.co/1UvY1aQSrK pic.twitter.com/JQtv0ElJtq-- Official Blue Bulls (@BlueBullsRugby) November 22, 2019