WP Rugby struggling to pay off debt

    2019-03-18 09:03

    Cape Town - The WP Rugby Union is reportedly struggling to pay back its debt to investment company Remgro

    Afrikaans newspaper Rapport indicated on Sunday that WP Rugby's debt to Remgro has grown from R40 million to almost R53 million after the union failed to make interest payments.

    The report added that the WP Rugby Union has not paid interest on the loan for some time and that interest over the next three years could push the loan amount up to R83 million.

    Adding to the union's financial woes is lower than expected supporter numbers for the Stormers' Super Rugby home matches, the ongoing battle between the professional and amateur arms of the union, as well as the fact that 28 owners of corporate boxes had given up their contracts.

    Remgro, an investment holding company based in Stellenbosch, bailed out WP Rugby with a personal loan at the end of 2016 when the union faced bankruptcy.

    Read News24’s Comments Policy

    Live Video Streaming
    Video Highlights
    Sport Talk
    Breaking News


    Friday, 26 April 2019
    • Crusaders v Lions, AMI Stadium 09:35
    • Sunwolves v Highlanders, Chichibunomiya Rugby Stadium 12:00
    Saturday, 27 April 2019
    • Hurricanes v Chiefs, Westpac Stadium 09:35
    • Waratahs v Sharks, Allianz Stadium 11:45
    • Stormers v Bulls, Cape Town 15:05
    • Jaguares v Brumbies, Estadio Jose Amalfitani 23:40
    Friday, 03 May 2019
    • Crusaders v Sharks, AMI Stadium 09:35
    • Reds v Sunwolves, Suncorp Stadium 11:45


    20 April 2019
    19 April 2019
    13 April 2019
    12 April 2019
    06 April 2019
    05 April 2019
    30 March 2019
    29 March 2019
    24 March 2019
    23 March 2019
    22 March 2019
    16 March 2019
    15 March 2019
    09 March 2019
    08 March 2019
    02 March 2019
    01 March 2019
    23 February 2019
    22 February 2019
    16 February 2019
    15 February 2019


    Rank Team P W Pts
    • Bulls (Q)
    • Lions (wc)
    • Sharks (wc)
    • Jaguares
    • Stormers

    Opinion Poll

    Which of the 4 South African team will finish with the fewest Super Rugby SA Conference points?

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

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