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FORUM / RUGBY /  Missing from this sad release......

Missing from this sad release......

Started by Mozart3 REPLIES446 VIEWS· 02 Nov 2019, 03:25
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MozartCaptain49,914 posts
02 Nov 2019, 03:25
#1
02 Nov 2019, 03:25#1

......is even a single reference to Newlands. We are losing so much without even a sense of connection,  it really is the end of a great era:



Cape Town Stadium (File)Related Links

Cape Town -  Western Province Rugby have confirmed a deal on Friday, which will see the union make Cape Town Stadium their new home in 2021.

In a press release statement, it was revealed that the City of Cape Town's Council approved the "Binding Heads of Agreement" between the City and WP Rugby.

The agreement sees WP Rugby as the primary Anchor Tenant at the stadium from February 1, 2021 in a deal that potentially spans the next 99 years.

The parties have agreed on a mutually beneficial revenue share model whereby Western Province Rugby will have preferential access to play all senior professional rugby matches at the Cape Town Stadium.

The City will retain responsibility for repairs and maintenance and the operational costs of Cape Town Stadium. It will remain a multipurpose entity, with Western Province Rugby leasing the Cape Town Stadium for matches.

The parties have also agreed to the construction of additional suites at Cape Town Stadium.

Following an extensive due diligence process and the ratification of the WPRFU General Council, the Heads of Agreement were approved.

The City insisted that this agreement would not affect any guaranteed community access and that the stadium remains host to all sporting codes and events.

Western Province Rugby Group CEO Paul Zacks said that while it is rewarding to reach this important stage, there are still many details to be worked out before 2021.

"These Heads of Agreement are the culmination of three long years of hard work. There is much ahead of us before we can play at Cape Town Stadium in 2021, with the Primary Anchor Tenant agreement still to be finalised," he said in a press statement.

Western Province Rugby Football Union President Zelt Marais said that this is a historic moment for the union.

"This is a watershed moment for Western Province Rugby as we open an exciting new chapter which will help ensure our financial sustainability and grow the game in the future," he said.


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Released on a Friday, the day before the Boks play in the WC final. My guess is, on the advice of the public relations firm.....slide it in under the radar.


MS
Mrs SearlePro1,533 posts
02 Nov 2019, 06:34
#2
02 Nov 2019, 06:34#2

Yep its sad stuff. A mate of mine a while back was complaining bout the football stadiums replacing old rugby stadiums. Too bad that rugby is still seen as racist and doesnt have respect it deserves. ttraditions in sport are massive and goes beyond race. Lots of ad business too makes it easy. Always going bankrupt... like those damn kiwis too. 

CL
clevermikeCoach57,555 posts
02 Nov 2019, 07:42
#3
02 Nov 2019, 07:42#3

The fact is that the WP Rugby Union is bankrupt and they have to pay up or go under.  The financial management of the Union was atrocious and there is no money for the required maintenance of Newlands and other rugby assets with the result that Newlands are just not meeting requirements anymore, 

So what happened about 4 years ago was that instead of becoming a financially sound management system they ran off and asked Rupert for a loan of R40 million to save their bacon.   In return Rupert required from them sound financial management and gave an undertaking of further support provided they met the latter requirement, 

They did not do anything of the sort and wasted the loan money as well.   The ends result is that the loan has grown to an amount due of R73 million - the WP Union did not make any repayment on the loan and the interest is piling up.   Rupert gave up on them and then proceeded together with Motsepe - Ramaphosa's brother-in-law to buy a 74,5% share of the Blue Bulls and insisted on the appointment of responsible managers by the Bulls.  

WP Rugby could have been saved the same way and Newlands would not have been in trouble at all, but as it is it actually belongs to Remgro and so does all the other fixed properties of WP Rugby and there is nothing which could have saved Newlands. .   

It once again prove that professional and sound administration does not go hand-in-hand with the amateur loonies running rugby in SA.  Don't blame anybody - but the WP Union for the demise of Newlands.         

  

MS
Mrs SearlePro1,533 posts
02 Nov 2019, 08:10
#4
02 Nov 2019, 08:10#4

That sucks. Amazing how much money disappears or gets blown and nobody gets caught out. I should start business in Bokkie town and join in the corruption... buy a nice island and retire early! Hhehe!!

— END OF THREAD —

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