By Felix Njini
(Bloomberg) – South Africa’s only black billionaire, Patrice Motsepe, has taken a key stake in the country’s best performing rugby team, adding to his sporting interests as he already owns the national soccer champions.
Motsepe’s acquisition of a 37% stake in the Blue Bulls gives him an equal stake to that of Remgro, a company controlled by South Africa’s richest man, Johann Rupert, according to a statement. The agreement was sealed Thursday, Alfons Meyer, the chief executive officer of the Pretoria-side said. The price of the deal wasn’t disclosed.
The equal co-owners of the club, Remgro and the Blue Bulls Rugby Union, cut their interest to 37% and 26% respectively, to pave way for Motsepe’s buy-in, Blue Bulls said.
Vodacom Bulls latest signing… Welcome to the #BullsFamily Patrice Motsepe. Read more https://t.co/1UvY1aQSrK pic.twitter.com/JQtv0ElJtq
— Official Blue Bulls (@BlueBullsRugby) November 22, 2019
The Blue Bulls are South Africa’s only multiple winner of the prestigious Super Rugby competition, which includes teams from New Zealand, Australia, Japan and Argentina.
While the bulls came fifth in the competition this year, they were the highest ranked South African franchise. Mamelodi Sundowns is Motsepe’s soccer club. The teams share a stadium, Loftus Versfeld in Pretoria.
Motsepe, who is brother-in-law to President Cyril Ramaphosa, made his fortune in the gold mining industry but his interests now span a range of metals as well as investments in financial services.
