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| Market cap |
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Johannesburg - Following a close competitive bidding process,
the Lions Rugby Union today announced it had sold a 49.9% stake in the union to
IT mogul and Guma Group executive chairman,
Robert Gumede, and his friend,
international businessman Ivor Ichikowitz.
The two businessmen have pledged to transform the union’s
flagging fortunes.
Gumede holds 51% in the new partnership while TransAfrica
Capital chairman Ichikowitz holds 49%. The investment is backed by undertakings
to aggressively develop the Lions franchise over the next few
years.
“We are investing for performance,” said Gumede. “Our aim is
to drive this team in every respect, so that we develop the franchise at all
levels, from the junior ranks all the way to the Super Rugby team. We want the
Lions leading the pack, taking it to its next level, and contributing Springboks
to this country.”
Gumede said he was inspired to invest in the Lions after
watching the Super14 semi and final matches played at Orlando Stadium in
Soweto.
Both Gumede and Ichikowitz believe that one of the key tenets
of this investment is that it brings true ownership transformation where there
is currently no black ownership.
“We don’t want to bring just transformation in ownership,”
said Gumede. “We want to create a winning culture with business-like cutting
edge management that will ultimately transform the Lions into the Manchester
United of world rugby."
Golden Lions Union president, Kevin de Klerk, welcomed the
announcement, saying: “This investment catapults the Lions into an entirely new
era. It also demonstrates the reality that rugby is a highly professional sport
and that we are now truly in the business of rugby.”
“In practical terms, the Lions will be better placed to
recruit, nurture, and incorporate the best players at all levels of the game.
"For our loyal and patient fans it brings the prospect of
sustained success on the pitch. This will in turn result in packed stadiums and
stimulate a new generation of Lions supporters.”
Gumede is the founder of the second largest South African IT
company, Gijima AST [JSE:GIJ].
Gumede’s love for sport has seen him sponsor and invest in
soccer, golf and athletics.
He was influenced to fall in love with rugby by his son
Simphiwe who was a top St John’s College first team rugby winger, he
said.
- Sake24