The Minister of Sport and Recreation South Africa, Fikile Mbalula, has noted with a deep sense of disappointment, the collapse of the relationship between GumaTransAfrica Capital (GumaTAC) and the Golden Lions Rugby Union.
"When the deal was mooted and closed between GumaTAC and the Golden Lions Rugby Union we were thrilled of the prospects of this deal" stated Minister Mbalula.
"The deal, according to Minister Mbalula, is the first black owned company taking a lead and meaningfully addressing issues of the ownership in rugby, possibility of real transformation and much awaited deracialisation of rugby that could lead to realisation of non-racial and democratic ideals and prospects of financial stability and enhancement of good governance within the Rugby Union".
The recent turn of events came as a shock and disappointment to the Minister. Minister Mbalula has requested the South African Rugby Union (SARU) to investigate the matter and report to him by 18 July 2011. Depending on the outcomes of the SARU investigation, 'the Ministry will decide on the course of action to be taken from the government point of view'. The Minister has also indicated to both parties his availability to mediate and find an ammicable solution.
Minister Mbalula's comments on Golden Lions Rugby Union - GumaTransAfrica Capital
