Ackerley Sports Group LLC "will pursue a new deal" for the commercial rights to the Springboks rugby team after an initial bid for the South African organization failed. ASG said it will "work with a professional adviser" and "will engage with any 'approved South African consortium' to revive the deal." Ackerley’s exclusive negotiating period with SA Rugby lapsed at the end of last year, weeks after its $75M bid for a 20% stake in an SA Rugby commercial rights company and effective control of its board failed to win support from the South African group’s member unions. ASG said it had offered to "include 50% South African involvement in its final proposal" (BLOOMBERG NEWS, 1/6).
RELATED: South Africa Rugby eyes private equity deal to boom sponsorship revenue
