The Western Province Rugby Football Union (WPRFU) has issued an update following their meeting with American investment consortium, MVM Holdings.
MATTER HAS DRAGGED ON FOR 4 MONTHS NOW
The two parties met on Friday to continue negotiations into a proposed deal that has been dragging on for some four months now.
New chairperson of Western Province Professional Rugby, Ebrahim Rasool, and WPRFU president Zelt Marais met with Marco Masotti, head of MVM consortium and Michael Yormark, President of Roc Nation and a member of the consortium.
Marais said: “We had a very productive meeting of the minds and cleared up all the misunderstandings we had before. WPRFU agreed a negotiations framework with MVM that is based on mutual respect and appreciation. We are pursuing an investment partner that will help us to strengthen Western Province Rugby and make it the leading global brand that retains and attracts the best talent.
Masotti said: “The outcome of last night’s meeting was very positive, and we are happy to be continuing our negotiations. We are confident that we can reach an amicable deal that serves the best interest of all parties – including the players, the fans, the clubs and the broader community. Most importantly, we are working towards a true partnership with the WPRFU so we can leverage our investment and our expertise to further develop a fantastic global brand. Furthermore, we wish to retract everything that was communicated through the media over the last four months.”
Whether anything is agreed upon in the coming days, weeks or months, remains to be seen.
