The guys at Western Province Rugby are tight-lipped about reports that a deal with Investec to redevelop Newlands is up in the air.
It was reported over the weekend that WP Rugby president Zelt Marais had failed to sign off the deal that would hand over the development rights of Newlands to the asset management company.
And that could have a big impact on the union, with the demolition of Newlands on hold while they stall, while WP Rugby’s move to Cape Town Stadium could also possibly be delayed. Not to mention the dire impact it will have on their already skaars finansies.
Die hele storie started last week when WPRFU executive committee member Kevin Kiewitz resigned from this position.
Marais said in a statement at the time: “I thanked Mr Kiewitz for his contributions during his time in office and wished him well for his future endeavours.”
There wasn’t much in terms of a verduideliking.
YET TO SIGN: WP's Zelt Marais
And by the weekend, widespread reports suggested Kiewitz’s exit had something to do with the Investec deal.
WP and Investec have reportedly agreed on a R110m deal for the development rights of Newlands, which will also see Investec on a 99-year lease of the property.
According to the Daily
Maverick: “Heads of agreement, which made the WPRFU’s move to the Cape Town Stadium a
reality, were signed on 28 November 2019.
“And the final sale of those Newlands development rights was supposed to be completed [last] week.”
The report adds that Investec already paid WPRFU more than R50m last year and would also
settle their Remgro debt (believed to be R58m) by the end of the month.
But without Marais’ signature, the deal can’t go ahead.
The Daily Voice tried to get comment from the WP camp, but there is no official statement on the situation yet.
The last word on their plans to relocate was on May 16 when they said in a statement: “The 2021 move to Cape Town Stadium remains on track”