It was confirmed that a controlling stake in the Blue Bulls Company was sold yesterday to mr Patrice Motsepe and mr Johan Rupert.
Mr Rupert previously owned a 50% share in the Blue Bulls Company via Remgro Ltd before the transaction last night. If previous reports on the matter are to be believed mr Rupert (Remgro) and Motsepe (African Rainbow Capital) no owns 37% each to give them the controlling share of 74%.
This transaction could give the Bulls the chance to compete with some of Europe’s biggest rugby clubs on an equal footing, and enable them to keep their best players in South Africa.
This transaction makes the Bulls only the second rugby franchise in South Africa controlled by private investors, with the Southern Kings being the first to sell more than a 50% stake to private investors.