American businessman to buy Kings?
Cape Town - American businessman Douglas Schoninger attended a classified meeting with SA Rugby bosses in Cape Town last week over the possible buyout of a majority stake in EP Rugby.
According to the HeraldLIVE website, the boss of Pro Rugby North America flew to South Africa to begin negotiations to buy a 74% stake in the EP Rugby Union.
It was a secret visit after he and SA Rugby reportedly agreed to a 'news blackout' because of the sensitive nature of the talks.
It's believed Schoninger and SA Rugby president Mark Alexander met for an informal braai at the Cullinan Hotel last Sunday.
The deal, often referred to as the 'American Alliance', could save EP Rugby from its financial troubles if it materialises.
The EP Rugby Union was liquidated last year which forced SA Rugby to step in and take control of matters, financing the Southern Kings in Super Rugby as well as the EP Kings' Currie Cup team.
EP finished last in last year's nine-team Currie Cup, losing all eight their games, while the Southern Kings ended last in Super Rugby's Africa Conference 2, winning only two of 15 games.