Gumede pulls the rug out from under the Lions

Eight months after announcing they had sold a 49.9% stake to Guma TAC, the Golden Lions Rugby Union (GLRU) said on Tuesday that negotiations had fallen through.

In a press statement, the Lions said they were disappointed on hearing that IT billionaire Robert Gumede and international businessman Ivor Ichikowitz had terminated the agreement.

“We have worked very long and very hard at the union to deliver a workable final shareholders agreement,” said GLRU president Kevin de Klerk.

“We were prepared to keep working on that process, but unfortunately the agreement could not be concluded.”

De Klerk said the union’s first concern had always been for the wellbeing and integrity of rugby in the region and felt it was difficult to proceed with the agreement until the union’s concerns were settled.

He said the Lions’ leadership focus was “on ensuring the health of rugby at all levels — not just the marquee elements of the Lions team and playing venue.

“Producing a trophy-winning Lions team remains our top priority, but there’s always a danger that you can throw the baby out with the bath water,” said De Klerk.

“Our duty as a union is to promote and develop rugby at all levels in the Golden Lions region.”

He said the dissolution of the arrangement would not have a negative impact on the team’s preparations for the Currie Cup.

“The decision would free the union from the negotiating table to concentrate on their core responsibilities.” — Sapa

PW Botha wagged his finger and banned us in 1988 but we stood firm. We built a reputation for fearless journalism, then, and now. Through these last 35 years, the Mail & Guardian has always been on the right side of history.

These days, we are on the trail of the merry band of corporates and politicians robbing South Africa of its own potential.

To help us ensure another 35 future years of fiercely independent journalism, please subscribe.

Advertisting

Western Cape Judge Mushtak Parker faces second misconduct complaint

The Cape Bar Council says his conduct is ‘unbecoming the holding of judicial office’

‘My biggest fear was getting the virus and dying in...

South African Wuhan evacuee speaks about his nine-week ordeal

Border walls don’t stop viruses, but a blanket amnesty might

Why South Africa should consider amnesty for undocumented migrants in the time of the coronavirus outbreak.

Press Releases

The online value of executive education in a Covid-19 world

Executive education courses further develop the skills of leaders in the workplace

Sisa Ntshona urges everyone to stay home, and consider travelling later

Sisa Ntshona has urged everyone to limit their movements in line with government’s request

SAB Zenzele’s special AGM postponed until further notice

An arrangement has been announced for shareholders and retailers to receive a 77.5% cash payout

20th Edition of the National Teaching Awards

Teachers are seldom recognised but they are indispensable to the country's education system

Awards affirm the vital work that teachers do

Government is committed to empowering South Africa’s teachers with skills, knowledge and techniques for a changing world

SAB Zenzele special AGM rescheduled to March 25 2020

New voting arrangements are being made to safeguard the health of shareholders

Dimension Data launches Saturday School in PE

The Gauteng Saturday School has produced a number of success stories