Rugby

Watson to step down as EP president?

2016-05-20 10:25
Cheeky Watson (Gallo Images)

Cape Town - Cheeky Watson, president of the embattled Eastern Province Rugby Union, is reportedly set to step down from his role.

Freddie Makoki, Watson’s deputy confirmed the news to EWN Sport on Thursday.

According to Makoki, Watson's decision to step down is not official yet, but it will be announced in due course.

The EP Rugby Union has been in major financial strive in recent times and was unable to pay players’ salaries.

It forced SA Rugby to step in and take charge of matters as the beleaguered union faced liquidation.

A recent report however indicated that an R80 million cash injection promised to the EPRU by a mystery sponsor will save the union from final liquidation.

According to the HeraldLIVE website, role-players were tight-lipped about where the money was coming from but court proceedings to have the union liquidated were postponed until May 31.

In asking the Port Elizabeth High Court for a three-week indulgence to file papers for business rescue, Watson said R20 million had already been secured from the investor as a “token of good faith”.

Watson said in an affidavit that EPRU’s administrator, SA Rugby, had secured a prospective investor who was willing to grant post-commencement finance to EPRU in terms of Section 135 of the Companies Act.

He said of these funds, R20 million had already been paid into the bank account of EPRU’s attorney, Paul Bester, with the rest to be paid over the remainder of the Super Rugby season.

Read more on:    kings  |  cheeky watson  |  port elizabeth  |  rugby
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