Sharks’ finances under scrutiny

2014-05-25 19:55
John Smit (Gallo)

Cape Town - Trouble is brewing for the Sharks rugby team after a forensic investigation into their finances was ordered following concerns raised by the brand’s auditing company KPMG.

According to the Sunday Independent, the team’s top brass is keeping mum on the issue but have confirmed that such an investigation is being conducted.

However, a spokesperson said that certain concerns had been raised recently but that there was no question of finger pointing at this stage.

The newspaper reported that according to insiders, certain concerns were raised during the financial report back about how money had been used to promote the Sharks franchise under the watch of former chief executive Brian van Zyl.

It is reported that the financial matters under scrutiny are pre-John Smit era and date back several years.

Van Zyl however is the man many people say was responsible for turning Natal – which was rebranded as the Sharks – into the success it is today.

Read more on:    durban  |  sport

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