Equity deal boost is like Christmas coming early for Stormers

They’re going to be very busy over the festive season, more so than any other South African franchise, but DHL Stormers coach John Dobson wasn’t thinking of that when on Friday he said it felt like Christmas had arrived early this week for his players and management.

Dobson was referring to the South African Competition Commission sealing it’s approval for the Red Disa consortium’s equity deal in securing a controlling shareholding in WP Professional Rugby (Pty) Ltd, something he says will make it easier for the Stormers to compete in the marketplace for playing resources, both in terms of keeping players and recruiting in areas of weakness.

Although the deal, which sees the consortium take a 74 per cent controlling interest of the professional rugby arm in the region, was agreed to by the clubs back in August, there was still red tape to get through so the effects of the partnership have yet to be felt by the Stormers. The Commission’s okay has now ended the waiting, and Dobson is delighted.

“It is a huge moment in our province and for the DHL Stormers and DHL Western Province professional teams and it feels like Christmas has come early for players, coaches and supporters in the region,” said Dobson.


“It finally feels real now that the Competition Commission has ruled on the deal, and it could not have come in a more appropriate week," he added, referencing the Stormers' Investec Champions Cup match against defending champions La Rochelle at DHL Stadium on Saturday.Stade Rochelais of France.


“These are historic moments in our rugby history in this province. Red Disa’s ownership is vital for the financial future of our rugby and I look forward to working with the new ownership, with our primary ambition our desire to create the most innovative and exciting club rugby brand in the world, as we strive to marry on-field excellence and performance with the best business practices off the field."

NOT A "VANITY PROJECT"

Dobson said both parties wanted the deal to be sustainable and not to become what he called “a vanity project”.

“It will be very good for our ability to look after our player resources, but what we will not be doing is doing what some others have done by rushing out and making 13 really big signings now,” he said.

“We feel we have a really good base, and the more cohesion we can build the better. By that I mean let’s get Herschel (Jantjies) and Manie (Libbok) to really get working as a halfback combination. What it does mean is that if we get a massive departure, we can deal with it. Maybe if we had this deal in place before Steven Kitshoff signed for Ulster, he wouldn’t have left.

“Maybe now we can have a longer conversation about someone like RG Snyman (who was rumoured to be heading to the Stormers but is probably heading to Bath because the asking price was too high). We’ve been paying a bit of rent in the lineouts this season (because of the departure of Springbok lock Marvin Orie). Those are the conversations we can have now.”

SATURDAY IS AN HISTORIC MOMENT

Dobson added that Saturday’s clash on the newly laid hybrid pitch at the DHL Stadium was another in a succession of historic moments the Stormers and their fans have experienced over the past two seasons.


“We have hosted six successive Vodacom United Rugby Championship play-off matches at DHL Stadium, including two successive Grand Finals, with last season’s final against Munster played in front of a tournament record crowd. We also hosted a Round of 16 match against Harlequins in the Investec Champions Cup.
“Now we get to host the defending Investec Champions Cup champions, whose squad is stacked with world-class players. It is going to be massive and the setting could not be more ideal for us, with the kick-off at 15h00 on Saturday, with glorious sunshine expected," said Dobson. 


“We want to make everyone proud and we want to give our new owners and wonderful supporters a win against the best team in Europe.”


THE MAKE UP OF THE CONSORTIUM

The Red Disa consortium is made up of Cape Town-based investment holding company Fynbos Ekwiteit and Ardagh Glass Packaging, a global business with a strong South African presence. The Cape-based personal investment company of Andre van der Veen, Marble Head Investments, completes the consortium.
Fynbos Ekwiteit’s Johan le Roux reiterated the company’s excitement at the investment into the DHL Stormers and WP Rugby.
“As Capetonians and lifelong fans of WP Rugby and the Stormers, we know what this team means to the people of this province and our investment will only make for a stronger rugby offering in our pursuit to be a world leader in the game," said Le Roux.

“The Competition Commission’s approval is fantastic news and we are in the process of finalising administrative details with SA Rugby."
Paul Curnow, CEO of Ardagh Glass Packaging: Africa, expressed his delight in the Competition Commission's decision, along with the ambition to make the Stormers the best in the sport and he also reiterated Ardagh’s many initiatives in South Africa, which includes the expansion of capacity in the Nigel facility, the ‘money4glass’ recycling programme, the new Employee Share Ownership Plan and the establishment of the Africa IT Centre of Excellence in Cape Town.