Private equity improves the product out on the park – SuperSport 0
SuperSport are all about the product out on the park, which is why they were delighted to hand a controlling stake in the Sharks to MVM Holdings, according to the broadcaster’s CEO Marc Jury.
SuperSport International and the KwaZulu-Natal Rugby Union were the majority shareholders in the Sharks franchise but last month they agreed to sell a 51% stake to the U.S. investment consortium headed by Marco Masotti. It has been the most high-profile equity deal thus far in South African rugby and Jury told The Citizen there were no qualms about handing over control of the Sharks because it provides a wonderful opportunity for all concerned.
“Private equity can provide some fantastic opportunities but it’s not just about who you partner with but also what their intentions are. And MVM Holdings have some wonderful ideas that will take the franchise to the next level and allow us to show the best rugby possible. Any investment in the game has to be a positive and this deal will allow the Sharks to retain some great talent.
“That’s what we as SuperSport want as well, to keep the best players here. We just want to show the best possible product which is why we have invested such large amounts in local rugby and forged a very close relationship with the mother body. We have invested heavily in the Sharks for a long time but we feel this partnership can help South African rugby,” Jury said.
Jury acknowledged that it has been a difficult time for all involved in SA Rugby competitions. Playing in the heat and humidity of mid-summer was a new challenge and testing protocols played havoc with the usual training week of the teams.
“These have been tough times and we have to remember that Covid will pass. We have stayed very close to SA Rugby through the whole period and playing in a bubble and not being able to prepare properly has not been good for the players mentally. There have also been no crowds and a great degree of anxiety, so there have not been the ingredients for the players to produce their best rugby.
“I think the teams did the best they could with a very difficult situation. But everyone is just hoping for some normality soon and the thing people miss the most is the whole experience of coming together and watching their favourite team. Hopefully they have missed it so much that when normality does return they will watch the rugby more than ever,” Jury said.