This after their business plannetjies with Flyt Property Investment were agreed to at a special general meeting on Wednesday evening.
The “loan and development partnership” will see Flyt loaning WPRFU money to settle its R112m debt with Remgro and Investec.
Furthermore, WPRFU’s president Zelt Marais explains in a statement released on Wednesday: “We will now move forward with incorporating two new companies - Newlands DevCo and Brookside DevCo - as equal partners with Flyt Property Investment.
“These companies will focus on obtaining development rights for the Newlands Rugby Stadium and Brookside properties, and the WPRFU will take an active role on the board directors of both companies and in sharing our plans and vision for the development of both sites.”
He adds: “Significantly, [the] decision also gives us the green light to finalise negotiations with the City of Cape Town to become the anchor tenant at the Cape Town Stadium.”
Before they take off, though, Marais promises fans a proper Newlands salute.
He adds: “We plan to pay homage to its rich heritage over the coming year, with a special event and permanent tribute at the stadium.”