Bulls are "financially strong"
October 13, 2000

Talk about the Blue Bulls being in the red is absolutely "bull", according to the head of premier sports brand business SAIL, who own a 50 per cent stake in Blue Bulls Company (Pty) Ltd and is responsible for the financial side of the professional rugby team's operations.

Nic van Gass, managing director of Southern African Investments Limited, a JSE-listed business, says the Blue Bulls are one of a few unions in the country who retained profits last year of around R9 million. A further R9 million was paid in the past year to the rugby union for amateur rugby.

And its budgeted to match these profits in the current year, as well as paying over almost R10 million to the rugby union for amateur rugby.

"The team's performance this year was not good and it figures that players incomes must be affected," Van Gass said.

He said the cuts proposed to its player budgets are based on sound business principles and part of the reality of running professional rugby like the business it is.

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