Bulls rocked by financial crisis

    2018-03-12 08:25

    Cape Town - The Blue Bulls are believed to be in major financial strife.

    Afrikaans website Netwerk24 reported on Sunday that the union’s professional arm, the Blue Bulls Company (Pty) Ltd (BBC), is struggling to keep head above water.

    According to the report, Gert Wessels - who is the president of the amateur arm, the Blue Bulls Rugby Union (BBRU) - allegedly made several unauthorised loan transfers from the union’s funds to the BBC, but the payments appear to be in arrears.

    The report further states that the BBC is close to being declared bankrupt and is surviving on more loans and favours.

    An initial loan worth R8.43 million from the BBRU to the BBC was supposed to be paid off by February 2017 but the professional arm has failed to do so.

    The report further stated that the BBRU’s CEO, Eugene Hare, also approved an unauthorised loan of R5 million to the BBC. By doing this, the BBRU also signed a surety for R7.5 million of the BBC’s other outstanding debt.

    The union’s clubs have now tabled a motion of no confidence in Wessels, which is led by Henri van Aswegen, vice-president of the BBRU.

    There were indications of financial difficulties at the Bulls in 2017 when the union started with a retrenchment process, which saw five coaches lose their jobs.

    The five retrenched employees - Tim Dlulane (team manager), Pine Pienaar (defence coach), Nqubeko Zulu (under-21 team manager), Dewey Swartbooi and Denzil Frans (both coaches of the under-19 team) - subsequently opted to take the matter to court after a Commission for Conciliation, Mediation and Arbitration (CCMA) hearing failed to reach a favourable outcome.

    READ the full story on Netwerk24

    What To Read Next

    Read News24’s Comments Policy

    Live Video Streaming
    Video Highlights
    Sport Talk


    Friday, 23 March 2018
    • Crusaders v Bulls, AMI Stadium 08:35
    • Rebels v Sharks, AAMI Park 10:45
    Saturday, 24 March 2018
    • Sunwolves v Chiefs, Prince Chichibu Memorial Stadium 06:15
    • Hurricanes v Highlanders, Westpac Stadium 08:35
    • Stormers v Reds, Newlands Stadium 17:15
    • Jaguares v Lions, Velez Sarsfield 23:40
    Friday, 30 March 2018
    • Chiefs v Highlanders, Waikato Stadium 08:35
    • Rebels v Hurricanes, AAMI Park 10:45


    Rank Team P W Pts

    Opinion Poll

    Who will finish top of the SA Conference in this year's Super Rugby tournament?

    Can you name the top Super Rugby tryscorers of all-time?

    There are new stories on the homepage. Click here to see them.