US consortium take over Sharks in landmark deal
US consortium MVM Holdings have effectively taken over South Africa’s Sharks franchise as their majority partner, the team have confirmed.
A statement from the Sharks reads: “In a move designed to bolster The Sharks’ ambitions of becoming a global force in world rugby, the KwaZulu-Natal franchise has welcomed a dynamic, MVM Holdings, an international investment consortium spearheaded by Marco Masotti, has entered into an agreement to purchase a 51 percent majority stake in The Sharks.”
Masotti, a life-long Sharks fan, is the driver behind the deal.
The current shareholders, the KwaZulu-Natal Rugby Union and SuperSport International, will hold on to the remaining 49 percent of the franchise, although the side have said that the ‘financial terms of the transaction are confidential.’
MVM Holdings, who own a number of sporting franchises in America, brings “significant finance, sports and management expertise and resources to The Sharks franchise.” Jay Z’s Roc Nation will assist with the global expansion of The Sharks brand, into the bargain.
“With the international rugby landscape poised to undergo transformational change in the coming years, investors have identified rugby as an attractive opportunity and invested in some of Europe’s leading rugby competitions. It is expected that the enlarged PRO16 competition will accelerate this trend. Navigation of the fast-changing rugby business requires a diverse and strong shareholder group who can implement a strategic plan and provide the resources to ensure that The Sharks become the premier rugby brand in the world.”
“Masotti, who is based in New York and leads MVM Holdings, grew up in Amanzimtoti and is a life-long Sharks fan. His expertise as a pre-eminent advisor to international asset management firms has enabled him to put together a group of investors who share the vision and expertise to ensure the continued growth of The Sharks franchise.
“The Sharks have a deep and wonderful history that can translate into a formidable global rugby brand.” Masotti said. “Our investment is designed to facilitate the expansion of the franchise through deep relationships with business people, financing sources and other sporting codes. We believe that rugby provides a unique platform for character and community building. We intend to shine a global light on the city of Durban and create opportunities for players from diverse backgrounds to become international stars.”
Brian Van Zyl, the newly-elected president of the KwaZulu-Natal Rugby Union, said: “In all our dealings with Marco Masotti, it was abundantly clear that his consortium, together with SuperSport, will bring not only greater commercial savviness but also international ties that will result in the Sharks becoming one of the most recognised global sports brands.”
Comments on RugbyPass
He’s a dominant personality. That might be both a good and bad thing in team dynamics. Certainly it ruined Smith’s first crack at 10 with Owen at 12. BTW, Bristol flatter to deceive. When things really matter, they tend to deliver less rather than more. Farrell would have been good for them
35 Go to commentsGot a lot of over the top abuse from Crusader fans, in particular, who thought every 7 they had was miles better. Now we will see if anyone is better? Laid his body on the line every game so finishing early makes sense. A lot of life left after rugby.
1 Go to commentsA poor decision to appoint Carley as not only is Pearce a better referee but also importantly speaks French.
2 Go to commentsHe is 100 % on the mark. Malicious arrogance with a lack of respect for the other teams mostly the south. they must learn from True rugby nations like the Boks and Kiwis
119 Go to commentsThis Outiniqua boy has played sublime rugby and deserves a spot in BI LIONS team. Well played son
4 Go to commentsI don’t like to see players miss big matches but this ban looks to be tailored to allow him to compete in the final. In principle a suspension for a very dangerous tackle in a semi should warrant missing the relevant final. Done now. One the flip side having both teams with very strong squads/teams available for the final will add to the occassion hopefully.
1 Go to commentsTalent to burn and a huge engine..hope he gets a shot at higher honours
2 Go to commentsIf anything like his dad he has a bright future, Soane was the best ball carrying props ive ever seen using a combination of pace power and footwork.
1 Go to commentsThose who saw Sharks vs Clermont and Ox N'Che vs Rabah Slimani should have a good idea of the best scrumagers… May be not the best props…
2 Go to commentsIt's been an unusual era of unpopular, highly competitive, domineering, fairly big fly halves in the home nations with Farrell, Sexton and Biggar. Russell is different in personality and player I think. I'd rank Sexton first of the three because he is just as good a game controller but also has a great passing game. And his competitiveness never seems to cause problems with refs.
35 Go to commentsThank goodness he wasn't born in Scotland, he'd have been a great candidate for the Scottish Barbarians. I wouldn't put it past them to push for a “where the player was conceived” rule 😂
2 Go to commentsOwen Farrell is one of the most polarising figures in the game. His entire attitude on the field (and sometimes off of it) smacks of arrogance and he is about as brash as Donald Trump in a political debate. Yet behind that facade is a calculating, determined and powerful leader who drives any team forward with an Iron will. You are right in that he gets better in the heat of battle and in the face of overwhelming odds. He develops a narrow focus and he delivers his best in a way that few others can. He is one of Englands great performers who sacrificed alot for the team and who often bears the weight of responsibility of leadership alone on the field and in front of the media. Despite what many think of him he is a fantastic game manager with a good rugby brain. He will be sorely missed from the international stage
35 Go to commentsAlways proud of the effort, Sam. The All blacks never stop fighting, never just roll over. He didn’t get anywhere near the respect he earned, but that’s due to results, not commitment to the cause. Have fun dominating in Japan!
1 Go to commentsNot sure why Papali’i thinks Scott Robertson needs his help to select the next All Black Captain. In my view, Papali’i would be well advised to have a good hard look at his own game, and to reflect on how fortunate he is to even wear the black jersey. Rather than shouting at his team mates at every set piece, standing in the mid-field pointing and holding his arms out and flopping to the ground at the back of every second or third ruck, may I suggest he would be far better employed actually doing something on the field. Seriously, watch him for 10 minutes during a game - not much happens. When was the last time he was first to a breakdown, or actually made a turnover? If Robertson is half the Coach I think he is, Papali’i will not be anywhere near the AB’s this season.
11 Go to commentsHiding coming up for Saders.
1 Go to commentsDagg really does go down some rabbit holes doesnt he? In the name I guess.
6 Go to commentsHey Brett I’m one who is looking forward to seeing JS back on the rugby field. I was under the impression that a large portion of his contract was via a third party so RA isn’t having to foot the bill My big concern is around the Tahs and what is happening there, why are so many players bailing. Is it the program, the coaches or the culture. Joe Schmidt recently said he had been at the Tahs all week and DC is a good coach. Something doesn’t gel , 10 front row forwards in a season that’s not bad luck
16 Go to commentsIncorrect title. He hasn’t said Furlong is one of the best scrummagers. He said he is one of the best props.
2 Go to comments“_It seems like a crazy thing that he was counting them_“ Are you stupid, mate? Anyone with more than half a brain understands that he meant “a lot” or something similar. Do you really think he was counting? “*Goode*: Told you, Jim!“ No, you banana. You said, explicitly, that the Irish players didn’t say what EE said they did. Even though you weren’t there. Even though you didn’t hear a word they said. M0r0n.
119 Go to commentsI am sure that Scott Robertson did do the courtesy of telling Sam Cane that he was not in his All Black plans and NZR would support him if he wished to sign a lucrative pension playing out his career in the cream puff rugby that is Japan’s Top League. I fail to see this as a negative as Israel Dagg is trying to spin it. Razor allowed Cane to leave with dignity rather than being unceremoniously dumped as was Buck Shelford.
6 Go to comments