Western Province Rugby (Pty) Limited’s liquidation means that both the Stormers and WP are now for sale.
That was the word from Chris van Zyl, one of two liquidators who was appointed by the Cape High Court to sell WP Rugby.
Van Zyl confirmed on Wednesday that WP have the power to borrow money and are trying their best to collect money to pay their players, coaches and employees’ salaries during December.
“It will also protect their contracts,” he told Netwerk24.
The court has told Van Zyl and his fellow liquidator, Dallie van der Merwe, to sell WP Rugby’s assetts and not to go ahead with any new contracts which has been approved by the management.
The Western Province Rugby Union had a 75% interest in WP Rugby, while Remgro Sport Investments (RSI) had a 25%-interest.
Van Zyl admitted that those shares are worth nothing now, however.
Van Zyl confirmed that, in future, they will do everything in their power to protect sponsors.
“We are busy finding a suitable buyer to protect WP Rugby’s business,” he added.
“Only then will the new owners be able to commence with new contracts with sponsors and shareholders.”
According to Van Zyl, all current contracts will be protected and a Stormers team will be named on condition that a “suitable buyer is found”.
“Ons onderneming as likwidateurs is om die besigheid as ’n lopende saak te hanteer.”