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WP Rugby is one step closer to finding an equity partner, it was announced on Friday.
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The Cape union has been under administration since October 2021, when SA Rugby took control of its affairs.
In recent press conferences, WP and Stormers head coach John Dobson has been vocal about a new equity partner that could come on board.
That now looks likely as SA Rugby confirmed in a press statement on Friday that plans were in place.
The statement read: "A consultation process has begun with a potential equity partner to invest in WP Professional Rugby (Pty) Ltd, the commercial arm of the Western Province Rugby Football Union (WPRFU), which remains under administrative control of the South African Rugby Union (SARU).
"A formal offer from a preferred bidder has been received by the board of WP Professional Rugby (Pty) Ltd and has been presented to the finance committee of SARU. That committee, in the first instance, will make a recommendation to the Executive Council (Exco) of SARU, once it has completed consultations with the bidder.
"Once Exco has reviewed the offer, it will be presented to the General Council of WPRFU, which body has the final verdict on any such agreement."
Experienced sport and government executive, Max Fuzani, was last month appointed as the new administrator for WP.
He replaced Rian Oberholzer, who held the position since October 2021. Oberholzer will shift his focus to SA Rugby, where he was appointed as interim CEO in March.
