Who owns Loftus Versfeld? The home of the Bulls and Sundowns
Who owns Loftus Versfeld? The home of the Bulls and Sundowns
Who owns Loftus Versfeld?
The famous Loftus Versfeld is a multi-purpose stadium located in Tshwane’s Sunnyside suburb.
The ground is most commonly used as the home of the Blue Bulls and also stages the bulk of home matches for PSL team Mamelodi Sundowns.
Loftus has a capacity of 51,762 spectators and also hosts open-air concerts alongside the sports that take place there.
The stadium’s turf has been consistently among the best in South Africa when it comes to conditioning.
Who owns Loftus Versfeld
The Blue Bulls Company owns Loftus Versfeld.
Blue Bulls Rugby Union owns 26% of the Blue Bulls Company with two more private shareholders splitting the rest of the shares.
Johann Rupert’s Remgro owns 37% of the Blue Bulls Company while Sundowns owner Patrice Motsepe also bought a 37% stake in the entity in November 2019.
Remgro, in which Rupert has a seven per cent stake, had until then owned 50% of the shares in the Bulls.
The control of the Blue Bulls company is effectively shared. Rupert’s Remgro and Motsepe own equal shares, with the Union acting as a tiebeaker.
Rupert and Remgro also own Stellenbosch FC while the billionaire sold his shares in English Premiership rugby side Saracens in 2018.
Motsepe is the owner of Mamelodi Sundowns although his appointment as president of CAF has seen him step away from the day-to-day running of that club.
Why did the Union sell of so much of the Blue Bulls company
The Blue Bulls company recognised the need for an injection of Capital in 2019.
They also hoped to establish Tshwane as the sporting capital of South Africa in conjunction with cricket ground SuperSport Park in nearby Centurion.
“This is a brilliant deal, not only for us at the BBCo, but also for our communities and the sport industry in general,” Alfons Meyer, CEO of the BBCo said according to Sport24.
“I look forward to a host of synergies and opportunities that will be forged between us.
“With Motsepe also owning soccer giants Mamelodi Sundowns, there is no doubt that a relationship like this will further enhance and entrench our vision to make Tshwane the sporting capital.”
Union backed the equity deal
The union believed the deal was as sweet as could be as well.
“We put a lot of effort into making this possible over the last few months, and I am proud to say that all the union committee members unanimously voted in favour of the deal,” President of the BBRU, Willem Strauss.
“I firmly believe that private investors will add immense value to our beautiful game going forward. The benefits of this deal is not only to the BBCo at the professional level, it will also make a positive impact on our amateur rugby, at schools, clubs and development levels.
“We are privileged and excited to have partners like Motsepe in our corner.”