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The Lions next play Eastern Province in PE on Wednesday 10 March 2021, kickoff at 16:45.

WP Rugby’s ‘deal of the century’ implodes

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Welpie
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    Posted: 10-Dec-2020 at 6:44pm
Flyt CEO Zane de Decker has confirmed they will seek to claim ‘damages’ from the Western Province Rugby Football Union over reneging on an agreement signed in June 2020.

‘Despite compliance by the Flyt Group with the agreements concluded, the WPRFU has inexplicably chosen to replace STBB as its legal advisors with a new litigation attorney, and has deliberately reneged on the transaction. The WPRFU has done so by now objecting to the agreed land value forming part of the substance of the transaction, and through its conduct is acting in flagrant disregard for the binding nature of the agreements.

‘It is important to point out that the land value agreed on was proposed by the WPRFU, not the Flyt Group. This value has subsequently been incorporated into the Newlands and Brookside DevCo’s that are co-owned by the WPRFU and the Flyt Group. To demand that the price be increased six months after the deal has been concluded is simply outrageous.

https://highburyads.co.za/www/delivery/afr.php?zoneid=632&cb=INSERT_RANDOM_NUMBER_HERE" frameborder="0" scrolling="no" width="320" height="50" style="outline: none; -webkit-font-smoothing: antialiased;">

‘The Flyt Group has taken comprehensive legal advice from senior counsel, and is assured of its rights under the agreements duly concluded with the WPRFU. Accordingly, the Flyt Group will now institute a claim for damages under the agreements as it is entitled to do.

‘The Flyt Group is in the process of quantifying its considerable damages which, in addition to its direct costs, will include the losses sustained as a result of the lost opportunity to develop both the Newlands Stadium and Brookside property as the parties intended.

‘The Flyt Group had looked forward to working with the WPRFU to co-develop the Newlands and Brookside properties and in this way support the Union’s commitment to bolstering rugby in poorer communities and ensuring a sustainable future for Western Province rugby.

‘However, If WPRFU fails to compensate the Flyt Group for its damages, it will have no choice but to approach the appropriate forum for relief to compel payment. This will include calling up the secured loans that the Flyt Group holds over the Newlands stadium and other properties.’

https://www.sarugbymag.co.za/wp-rugby-damages-claim/


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Koning Leeu
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Post Options Post Options   Thanks (0) Thanks(0)   Quote WitBoer Quote  Post ReplyReply Direct Link To This Post Posted: 11-Dec-2020 at 7:49am
LOL
"Believe nothing, No matter where you read it, Or who has said it, Not even if I have said it, Unless it agrees with your own reason And your own common sense" - Buddha
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Koning Leeu
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Post Options Post Options   Thanks (0) Thanks(0)   Quote TunaLion Quote  Post ReplyReply Direct Link To This Post Posted: 11-Dec-2020 at 8:57am
Kry vir julle.
Moo-Mamma, Moo-Papa, MooMa, Mei-Mei. BooBoo en Snif-snaf, ou Stinkie daar by. Almal bly saam in die Moo vallei!
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Post Options Post Options   Thanks (0) Thanks(0)   Quote TunaLion Quote  Post ReplyReply Direct Link To This Post Posted: 11-Dec-2020 at 9:00am
Om dit nog als te kroon, gaan MVM definitief nie voort met die deal tussen hulle en WP nie....


American consortium MVM Holdings has confirmed it will cease negotiations with WPRFU and pursue other opportunities in professional rugby. CRAIG LEWIS reports.

This follows the statement on Thursday from Flyt CEO Zane de Decker, who confirmed they will seek to claim ‘damages’ from the Western Province Rugby Football Union over reneging on an agreement signed in June 2020.

In addition to this, it’s now been confirmed that the potential R100-million deal for a 51% stake in WP Rugby (Pty) Ltd will not go ahead.

‘Given the recent media speculation, we thought it was important to the players, coaches, management, sponsors and supporters of Western Province rugby to share that MVM Holdings has decided to cease negotiations with WPRFU and to pursue other opportunities in professional rugby,’ read a statement sent to SARugbymag.co.za from Marco Masotti, head of MVM, on Thursday.

‘We are enormously grateful for the time and resources made available to us by WPRFU while considering to invest in such an established professional franchise. We remain passionate about the development of the professional and amateur game in the Western Cape.

‘It has been an enormous privilege to get to know the many and diverse Stormers Faithful on our journey. We will continue to treasure the traditions and history of this incredible franchise. I will always be a fan of Western Province rugby and hope for the continued success of our beloved rugby game in the Western Cape.’

As reported by this website on Tuesday, MVM Holdings could now look to close an investment with the Sharks as a viable alternative, with discussions well under way to consider a shareholding in the Durban-based franchise.

Meanwhile, in WP Rugby circles, the fallout could be significant considering a number of the Stormers’ senior players are widely reported to be unwilling to negotiate contract extensions until there is certainty about the financial security of the business wing.

On Tuesday, Netwerk24 even reported that should the potential deal between American consortium MVM Holdings and the Sharks go through, someone such as Province and Bok captain Siya Kolisi – a high-profile Roc Nation representative – could be drawn to move to Durban.

When addressing these rumours, WP coach John Dobson suggested it may just be ‘smoke’ at this moment, but did not entirely rule it out.

‘Siya is our leader. I literally asked Siya yesterday [Tuesday] if we need to have a chat and he said, “Let’s get through Friday”, which is the responsible and mature thing. I don’t think there is anything formal. There can be nothing formal until the contracting window starts. At this stage, I would think the Siya thing is just smoke.’

Moo-Mamma, Moo-Papa, MooMa, Mei-Mei. BooBoo en Snif-snaf, ou Stinkie daar by. Almal bly saam in die Moo vallei!
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Koning Leeu
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Post Options Post Options   Thanks (0) Thanks(0)   Quote TunaLion Quote  Post ReplyReply Direct Link To This Post Posted: 11-Dec-2020 at 9:01am
Player Exodus coming soon:

"Meanwhile, in WP Rugby circles, the fallout could be significant considering a number of the Stormers’ senior players are widely reported to be unwilling to negotiate contract extensions until there is certainty about the financial security of the business wing."

Meeste van hulle kontrakte verstryk volgende jaar.
Moo-Mamma, Moo-Papa, MooMa, Mei-Mei. BooBoo en Snif-snaf, ou Stinkie daar by. Almal bly saam in die Moo vallei!
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Koning Leeu
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Post Options Post Options   Thanks (0) Thanks(0)   Quote WitBoer Quote  Post ReplyReply Direct Link To This Post Posted: 11-Dec-2020 at 9:52am
LOLLOLLOL
"Believe nothing, No matter where you read it, Or who has said it, Not even if I have said it, Unless it agrees with your own reason And your own common sense" - Buddha
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Post Options Post Options   Thanks (0) Thanks(0)   Quote valie Quote  Post ReplyReply Direct Link To This Post Posted: 11-Dec-2020 at 10:12am
Kitshoff, Pieter Steph en JD Schickerling is spelers wat ek glad nie sal omgee om in n Leeu trui te sien speel nie. Die res, hoewel daar dalk n paar "groot name" tussen hulle is, was tot dusver maar below average.
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Koning Leeu
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Post Options Post Options   Thanks (0) Thanks(0)   Quote WitBoer Quote  Post ReplyReply Direct Link To This Post Posted: 11-Dec-2020 at 10:21am
Originally posted by valie valie wrote:

Kitshoff, Pieter Steph en JD Schickerling is spelers wat ek glad nie sal omgee om in n Leeu trui te sien speel nie. Die res, hoewel daar dalk n paar "groot name" tussen hulle is, was tot dusver maar below average.
Kitshoff was nog altyd vir my baie goed, maar vir een of ander rede hou ek deesdae al hoe minder van hom. PSdT is my gunsteling speler, maar ek glo nie hy sal ooit die WP los nie, hy speel nie vir die geld nie...
"Believe nothing, No matter where you read it, Or who has said it, Not even if I have said it, Unless it agrees with your own reason And your own common sense" - Buddha
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Koning Leeu
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Post Options Post Options   Thanks (0) Thanks(0)   Quote TunaLion Quote  Post ReplyReply Direct Link To This Post Posted: 11-Dec-2020 at 6:30pm
Ruhan Nel is seker maklik hul beste agterlyn speler deesdae en die enigste ander speler van hulle wat ek enigsins 'n bietjie respek voor het. Andersins is meeste van hulle maar over rated. Alhoewel ek dink Herschel Jantjies sal eintlik ook weer goed begin lyk by ons, want ek dink nie Weepee se spelpatroon pas enigsins sy styl nie.
Moo-Mamma, Moo-Papa, MooMa, Mei-Mei. BooBoo en Snif-snaf, ou Stinkie daar by. Almal bly saam in die Moo vallei!
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