South African billionaires Johann Rupert and Patrice Motsepe are reportedly gunning for a controlling interest in the Bulls, a South African rugby union team competing in the Super Rugby competition.
According to Rapport, a Johannesburg-based newspaper, the two businessmen have made a joint offer to acquire a majority share in the Blue Bulls Company, the owner of the Bulls.
Remgro, a JSE-listed investment holding company in which Rupert owns a 7% stake, is currently a 50% shareholder in the Blue Bulls Company. If the deal goes through, Remgro will reduce its share to 37.45% while Motsepe will take up a 37.45% stake in the Pretoria-based franchise, giving the two billionaires a controlling stake. A controlling ownership shared between Motsepe and Rupert could make the Bulls a financial powerhouse which will allow them to compete with overseas clubs.
Rupert and Motsepe, two of South Africa’s most prominent businessmen, are well-known sport team owners. Last year, Rupert disposed of his shares in Saracens Football Club, an English professional rugby union team based in London, England. Motsepe on the other hand is the owner of Mamelodi Sundowns, a South African football club based in Mamelodi, Tshwane, Gauteng that plays in the Premier Soccer League.