Absa dumps the Springboks
‘Idols South Africa’ finalists Karabo Mogane and Mmatema Moremi go head-to-head at Carnival City in Gauteng tonight in the grand finale of the show’s 11th season. One of the highlights will be a group rendition of Rachel Platten’s hit ‘Fight Song’ by the top 10 contestants See Page 3 THE Springboks are in danger of starting next year’s international season without a major sponsor after Absa pulled out of renewal negotiations last week.
The Sunday Times understands that the slow pace of transformation in rugby is one of the reasons for the decision.
Absa, owned by Barclays, sent a letter, seen by the Sunday Times, to South African Rugby Union CEO Jurie Roux informing him of the decision last week Friday.
The letter, written by executive head of group marketing and corporate affairs Bobby Malabie, states that after entering into “protracted discussions” with Saru, Absa has “decided not to sponsor the national team”.
The deal is believed to be worth R100-million a year for just the Springboks and R600-million in total for the four-year period.
High-placed sources said the banking group was snuggling up to the government’s black economic growth targets and felt that the lack of transformation in rugby tarnished this strategy.
Absa’s withdrawal also affects the South African Sevens team, who will go to next year’s Rio Olympic Games as genuine medal hopes. Women’s and junior national teams will also be affected.
Saru is frantically negotiating with one of the Varsity Cup sponsors to take over the title sponsorship for the Blitz Boks as well as the expanded 14-team Currie Cup.
A Saru spokesperson declined to comment until sponsorship negotiations were concluded.
Absa’s sponsorship will from next year be redirected towards education — and is likely to help the government absorb the shortfall with its zero tertiary fees increase.
Absa spokesman Byron Kennedy declined to comment.
Springbok coach Heyneke Meyer came under fire after selecting just eight players of colour in his 32-man Rugby World Cup squad. He played just four of those in the defining semifinal against New Zealand, which the Springboks lost 20-18.
The bank ended its Currie Cup sponsorship earlier this year, and will be out of rugby altogether by the end of the year.
Absa intended to notify Sports Minister Fikile Mbalula, as a courtesy, of its decision last Monday. The bank also planned to engage Deputy President Cyril Ramaphosa and Minister in the Presidency Jeff Radebe to gauge their opinion on its decision.