Statement from Guma TAC regarding contract with Lions Rugby
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Joint statement by Guma TAC, Mr. Robert Gumede & Ivor Ichikowitz
Guma TAC confirmed they have withdrawn from the Lions transaction. We also confirm that Guma TAC has provided a detailed letter of withdrawal with several fundamental reasons to Golden Lions Rugby Union (GLRU).
The proposed Guma TAC Lions transaction has been conditional to South Africa Rugby Union (SARU) approval. This (SARU) approval came through on 9 June 2011.
The driving force behind our investment has been the total transformation of Lions Rugby and South African rugby in general. We feel sad that our effort to bring same to the Lions has been rendered unsuccessful in spite of our effort.
Guma TAC has always behaved in a professional and ethical manner when issues pertaining to the Lions were exposed in the media. We felt it dignified not to comment.
We believe it is the Lions who are in a better position to reveal the real reasons for our withdrawal.
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