robdylan

New investment to Redefine Lions?


Written by Rob Otto (robdylan)

Posted in :Lions, Original Content on 9 Feb 2012 at 19:54
Tagged with : , ,

Fans of the Golden Lions can breathe (yet another) sigh of relief as the GLRU today showed former partners Guma the middle finger by announcing a multi-million sponsorship deal.

Union President Kevin de Klerk confirmed that the Lions have concluded a three-year deal with Redefine Properties that will provide a cash boost and allow the Union to deal with “legacy issues”; a nice way of admitting that the Lions are saddled with a fair old chunk of debt after a decade of mismanagement, which the new sponsor’s money will help to alleviate.

Guma sought to liquidate the Lions and filed papers with the Johannesburg High Court to that effect earlier in the year, claiming that multi-million Rand loans were outstanding and that the Union was both “factually and commercially” insolvent. De Klerk, who hit out at these statements at the time they were made, now seems to have the money to put where his mouth has been for some time – and much strength to his elbow.

In a classic case of doublespeak, de Klerk confirmed that “we project to be cash flush in months. We are not saying that we are not [cash flush], but this has gone a long way in alleviating the situation at the Lions.” What situation, Kevin? We thought there wasn’t one! Oh well, guess it doesn’t really matter now… Good luck Lions.



20 Comments

  • Jeepers, another awesome headline from the desk of me. I should do this for a living

  • Comment 1, posted at 09.02.12 20:13:17 by robdylan Reply
    Competition Winner Administrator
    robdylanHead Coach
     
  • :lol:

    Hopefully it works out for the Lions this time, can’t have many of their 9 left.

  • Comment 2, posted at 09.02.12 20:55:20 by LordHope Reply

    Under 21 player
     
  • @robdylan (Comment 1) : Should have said “redefine Lie-ons” coz of de Klerk’s contradicting statements :mrgreen:

    No jokes. I’ve been pondering over this issue ever since I read that letter from a life long Lions fan. What’s the best approach when faced with a financial crisis as suspected in the case of GLRU. Keep quiet and let the rumours potentially get out of hand or come clean and admit the extent of the problems publicly.

    Seems like it terms of maintaining confidence, the Lions did the right thing. For their fans it was a case of what you don’t know can’t hurt you.

    I’m really happy for the Lions with this deal they’ve struck. I hope this is the start of a long period of financial prosperity.

  • Comment 3, posted at 09.02.12 21:41:06 by beet Reply
    Friend of Sharksworld
    beetCurrie Cup player
     
  • So they will now be the Redefine Lions? :shock: :twisted:

    Well, still happy that the Guma group did not get the nasty outcome they wanted.

  • Comment 4, posted at 09.02.12 22:09:04 by Big Fish Reply
    Author
    Big FishAssistant coach
     
  • @Big Fish (Comment 4) :

    Nope . MTN is still the main sponsor . Redefine will be on the back off the Jersey .

    @beet (Comment 3) :

    look we know we are (were ?) in trouble financially . I few people who saw the statements said its not looking rosy but its not bankruptcy stuff either . we needed the new equity partners who we now have . and obviously the sponsors as well .

    in the end we’re not going away :P

  • Comment 5, posted at 09.02.12 23:07:28 by Zibbie Reply
    Friend of SharksworldCompetition Winner
    ZibbieTeam captain
     
  • Great news for the Lions, and will fully get them back on track. It is great news for SA rugby that we will hopefully have all five franchises being very competitive. I think Mitchell has done a great job, and has completed phase 1 of his plan which was to sort out the 1st XV and maintain continuity. Now his second phase will be to try and build some depth, through shrewd acquisitions and bringing through youth.

    I noticed that Ruan Botha is starting against the Kings and Callie Visagie. I think Visagie has a great chance to keep the no2 jersey and could be a real star in Superrugby. As for Botha it seems he is highly rated up there at the Lions. Apparently Ruan Steenkamp may have some dispute with the Lions over his contract, it seems he might play for the Bulls. Anyone know anything about that?

  • Comment 6, posted at 09.02.12 23:25:33 by Pat Reply

    Under 21 player
     
  • Think we can pay salaries now?????

  • Comment 7, posted at 10.02.12 08:44:44 by Greg Reply

    GregSuper Rugby player
     
  • Great news, the Lions just need to keep the players they have and rely on their youth systems to bring up the players

  • Comment 8, posted at 10.02.12 08:46:26 by Mutley Reply
    Author
    MutleyTeam captain
     
  • @robdylan (Comment 1) : I still vomit a little when i think of your hmmm bop headline

  • Comment 9, posted at 10.02.12 08:52:42 by Clayton(PJLD) Reply
    Administrator
    Clayton(PJLD)Team captain
     
  • @Clayton(PJLD) (Comment 9) :

    There was a line, and he crossed it..

  • Comment 10, posted at 10.02.12 08:53:45 by Richard Ferguson Reply
    Friend of SharksworldCompetition Winner Administrator
    Richard FergusonCoach
     
  • @Richard Ferguson (Comment 10) : I swear to you i break out in cold sweats sometimes, Ive had to rethink our friendship a few times

  • Comment 11, posted at 10.02.12 09:00:06 by Clayton(PJLD) Reply
    Administrator
    Clayton(PJLD)Team captain
     
  • @Clayton(PJLD) (Comment 11) :

    :mrgreen:

  • Comment 12, posted at 10.02.12 09:12:47 by Richard Ferguson Reply
    Friend of SharksworldCompetition Winner Administrator
    Richard FergusonCoach
     
  • As this may sound like good news, I’ve watched this movie before …

    Yet I am still excited again at the prospect of the Union finally turning a corner. blind faith …year of practice.

    The players can now go out and play rugby.

    Hopefully this is the last we hear of this and from now on its about how we are playing and kicking ass :mrgreen:

  • Comment 13, posted at 10.02.12 09:20:07 by csb Reply

    csbSuper Rugby player
     
  • @Clayton(PJLD) (Comment 9) : @Clayton(PJLD) (Comment 11) :

    Brilliant!! :mrgreen: :lol:

  • Comment 14, posted at 10.02.12 09:35:05 by wpw Reply
    Author
    wpwAssistant coach
     
  • @Clayton(PJLD) (Comment 9) :

    Not nearly as bad as ‘What a load of Bullderdash…’ :twisted: ;-)

  • Comment 15, posted at 10.02.12 09:37:28 by wpw Reply
    Author
    wpwAssistant coach
     
  • @Pat (Comment 6) : Where did you see the Lions team to face the Kings? I’m keen to see who they’ve got lined up.

  • Comment 16, posted at 10.02.12 10:10:47 by StevieS Reply
    Author
    StevieSSuper Rugby player
     
  • It was up on suparugby, but looks like they’ve pulled it for some reason. From what i remember it was

    15 Taute 14 Van Rensburg 13 Le Grange 12 Hollenbach 11 Kamana 10 Jantjies 9 Bondesio 8 Strauss 7 Minnie 6 Grobbelaar 5 Botha 4 Roodt 3 Cilliers 2 Visagie 1 Van Rensburg

  • Comment 17, posted at 10.02.12 10:14:31 by Pat Reply

    Under 21 player
     
  • @Pat (Comment 17) : Thanks. Wow, that is a stronger team than I was expecting after Mitchell’s earlier talk about sending a weaker team.

  • Comment 18, posted at 10.02.12 10:19:34 by StevieS Reply
    Author
    StevieSSuper Rugby player
     
  • @StevieS (Comment 18) :

    Yep i think more or less firstchoice, although dont think Botha will play instead of Van der Merwe, nor Kamana in front of Killian. I think Mitchell probably realized that he would have no other competitive friendly to test the team in before the first Superrugby fixture.

  • Comment 19, posted at 10.02.12 10:24:52 by Pat Reply

    Under 21 player
     
  • @Pat (Comment 17) :
    A strong team, if the Kings play a B team they wil be wasted

  • Comment 20, posted at 10.02.12 16:24:46 by Mutley Reply
    Author
    MutleyTeam captain
     

Add Comment

You must be logged in to post a comment.