Western Province Rugby bosses Ebrahim Rasool and Zelt Marais met with MVM Holdings over the weekend to further negotiate a proposed business deal between the two parties.
For months now, it has been rumoured that the American consortium, led by South African-born businessman Marco Masotti, wants to buy a majority stake in Western Province Rugby Football Union (WPRFU).
Een haakplek is apparently that the WP manne are not willing to part ways with majority control in what is believed to be a R100m deal.
It now looks like the parties have found middle ground and after meeting on Friday, Marais says: “We had a very productive meeting of the minds and cleared up all the misunderstandings we had before.
“WPRFU agreed a negotiations framework with MVM. We are pursuing an investment partner that will help us to strengthen WP Rugby and make it the leading global brand that retains and attracts the best talent.”
Masotti adds: “The outcome of [the] meeting was very positive, and we are happy to be continuing our negotiations. We are confident that we can reach an amicable deal that serves the best interest of all parties.
"Most importantly, we are working towards a true partnership with the WPRFU so we can leverage our investment and our expertise to further develop a fantastic global brand.
"Furthermore we wish to retract everything that was communicated through the media over the last four months.”