Saru in financial dispute
17 Mar 2010
Saru and the South Africa Revenue Services (Sars) are involved in a R155 million dispute.
Saru released its financial results on Wednesday and notes to the financial statements include a contingent liability of R155 million for additional tax assessments raised by Sars. This relates to payments made by SA Rugby (Pty) Ltd to Saru between 2003 and 2008, to fund contractually required amateur rugby activities.
Saru is disputing the matter with Sars based on interpretations of certain provisions of the Income Tax Act, and the rugby body hopes the matter will be favourably resolved soon.
Meanwhile, Saru reported a pre-tax profit of R28.5 million for 2009, which was lower than originally forecast as the British & Irish Lions tour didn’t do as well as expected.
Saru’s gross income for 2009, including its share of the profit from the Lions tour, increased by 15% to R501 million while operating expenditure of R477 million was restricted to a 1.3% increase on 2008.
The lower than expected profit was blamed on the worldwide recession, as this ‘impacted on Saru’s adjusted share of the net revenues from the tour by the Lions,’ a Saru statement said.
‘The demand for hospitality packages and match tickets was, understandably, not as strong as had been forecast,’ said Basil Haddad, Saru’s chief financial officer. ‘But we achieved an acceptable financial result overall and our financial position remains healthy.’
Increased administration and governance expenses, particularly on legal and other professional fees related to the amalgamation of Saru and SA Rugby (Pty) Ltd and certain tax issues, contributed to the expense increase.
However, ‘the amalgamation is likely to provide a platform for maximising revenues and making meaningful cost savings,’ said Haddad. ‘The funding of professional and amateur sport is a challenge for sports federations around the world, and maximising commercial opportunities for rugby is now essential.’
Haddad said that although this year was the last of a five-year broadcasting cycle, during which revenues have remained flat, he expected Saru to make a modest operating profit in 2010, due mainly to a grant of £1 million from the IRB Trust and revenues from additional overseas matches.
142 Comments
Pages: « 1 2 [3] Show All
18 Mar 2010, 00:19 am
Shaun Langenhoven needs to realize that just because someone doesn’t agree with him,like him or support him…..it doesn’t mean they are by default racist, it just means that They think he is a ********.
18 Mar 2010, 00:35 am
@Brigadier Van Zyl:100 Do you despise Xkreni??.. Do you think that he is a ********
@Xkreni-WP: 99 Starting to panic.. About your name: I just want everybody to know who you are.. I am sure that you are a wonderful law abiding , morally pure person in real life.. No worries. I am sure your parents are proud of you only want whats best for you. I am sure they want to tell the world how wonderful you are.. and how much you do for the community
18 Mar 2010, 01:01 am
Look, the way I view this conversation is…
We don’t believe a word Malema says cause he speaks out of his arse…the same goes for our “honourable” (K@K) president. Corrupt good for nothing %$*. “the almighty shaun” is good pals with these guys and supports them so would you expect anything less coming from him…No I don’t think so.
+ he ran away to London..or..was he kicked out…who knows…
My suggestion to everyone that wants to talk rugby on this site is to absolutely ignore anything this bafoon has to say. Same thing the media should be doing with JM
BTW kudos to Oasis for knowing where to get there bread buttered and support a well run, top class business. The ANC could learn something from them
18 Mar 2010, 01:05 am
@Shauny: YOu need my name to make yourself relevant..
18 Mar 2010, 01:11 am
OK.. that’s it for the week.. will catchup over the weekend
18 Mar 2010, 01:25 am
@The Almighty Shaun: 82 sorry to burst your bubble here but I have lived in the UK and it certainly is not living the dream! It is a dreary expensive island shrouded in grey cloud with no scenery to be seen and inhabited by grey miserable people.
Yes its safe but its incredibly expensive and the weather is farking awful! Some of my worst relationships have been with British girls and I’m sure everyone will agree here the rugby is kak as can be. Safe but **** is how I describe the UK.
18 Mar 2010, 01:32 am
@The Almighty Shaun: What Xkreni said was wrong but what you said wasn’t much better and it was very divisive. As Ranger quite rightly pointed out our country is severely scarred by the events of the past but now most South Africans just want to move on with their lives and move away from the past. Unfortunately, there are still a minority of troublemakers of all colours who dislike progress and want to drive a wedge between whites and blacks so things can go back to the old days of fear, suspicion and hatred. Malema is one of these people and it seems to me so are you.
18 Mar 2010, 06:30 am
@The Almighty Shaun:
You make me panic? Dont flatter yourself my klong.
When you started blogging here, I thought it was an assumed personae ala Waddy jones. I have come to realise though that you are quite fcuked in the head and believe yourself (the only one I am sure).
You have either contracted syphillis along the way or these delusions of grandeur have been caused by the dreaded FAS. Shame, your mother probably did not know better.
Well, if it is FAS, at least you can blame the Dop System, those peky white farmers and apartheid.
You are obsessed with your PC and yourself. You spend so much time on it, I know you do not have time for your supposed ”beautiful” 43 yr old wife.
At least it keeps you away from the babies. Another symptom plauging FAS sufferers.
18 Mar 2010, 06:31 am
peky=pesky
And that is the last comment I will ever direct at you.
18 Mar 2010, 07:44 am
its time that Chantal (Shauns ex wife) come and put Shaun in his place again … sh0rt d!ck man!
18 Mar 2010, 07:53 am
@Tacitus:
At least Le Bron doesn’t use Performance Enhancing Drugs!!!
18 Mar 2010, 08:14 am
@Mielieboer: Hi Mielieboer, who is this Shaun and Chantel you are talking about? Do you know them? I am trying to trace a Shaun and Chantal who stayed in Moreleta Park Pretoria up until last month.
18 Mar 2010, 08:26 am
Shaun, is this you bro??
Allegations Of Racial Bias Denied By Country Club
CAPE TOWN Jan 6 Sapa
The owner of a Cape west coast country club has denied
allegations that a man was barred from a disco there because of
the colour of his skin.
Athlone quantity surveyor Shaun Langenhoven, 28, said he had seen
advertisements for a disco to be held at the Langebaan Country
Club on January 2.
On arrival, Mr Langenhoven was apparently told the entrance fee
was R5 but that he would have to see the manager as the disco was
open to members only.
“After I was turned away, three white guys, who told me they were
not members, were let in,” Mr Langenhoven said.
Mrs Sharry Brown, who owns the bar and restaurant at the club
with her husband Colin, said on Wednesday that the disco was
normally open to the public.
On January 2 however the disco had been hired out privately and
the Browns had been given a guest list.
Mr Langenhoven’s name had not been on the list.
“We absolutely do not practice racial discrimination. Their money
is as good as ours and we would not turn anyone away because of
their skin colour. He can come back this week when the disco will
be open to the public,” Mrs Brown said.
Mr Langenhoven said however he had not been asked for his name
so “how do they know it was not on the list?”.
“I was so angry that’s why I made the comment about not
condemning the Azanian People’s Liberation Army when whites are
allowed under the present government to treat blacks with extreme
degradation without the threat of retribution.
“I’m sure that the golf club in King William’s Town also refused
people entry that’s why Apla bombed it.”
Mr Langenhoven was referring to an incident in November where
five whites were killed in a terror attack for which Apla claimed
responsibility.
18 Mar 2010, 08:26 am
Allegations Of Racial Bias Denied By Country Club
CAPE TOWN Jan 6 Sapa
The owner of a Cape west coast country club has denied
allegations that a man was barred from a disco there because of
the colour of his skin.
Athlone quantity surveyor Shaun Langenhoven, 28, said he had seen
advertisements for a disco to be held at the Langebaan Country
Club on January 2.
On arrival, Mr Langenhoven was apparently told the entrance fee
was R5 but that he would have to see the manager as the disco was
open to members only.
“After I was turned away, three white guys, who told me they were
not members, were let in,” Mr Langenhoven said.
Mrs Sharry Brown, who owns the bar and restaurant at the club
with her husband Colin, said on Wednesday that the disco was
normally open to the public.
On January 2 however the disco had been hired out privately and
the Browns had been given a guest list.
Mr Langenhoven’s name had not been on the list.
“We absolutely do not practice racial discrimination. Their money
is as good as ours and we would not turn anyone away because of
their skin colour. He can come back this week when the disco will
be open to the public,” Mrs Brown said.
Mr Langenhoven said however he had not been asked for his name
so “how do they know it was not on the list?”.
“I was so angry that’s why I made the comment about not
condemning the Azanian People’s Liberation Army when whites are
allowed under the present government to treat blacks with extreme
degradation without the threat of retribution.
“I’m sure that the golf club in King William’s Town also refused
people entry that’s why Apla bombed it.”
Mr Langenhoven was referring to an incident in November where
five whites were killed in a terror attack for which Apla claimed
responsibility.
18 Mar 2010, 08:48 am
@Mielieboer: Hi Mielieboer, dont worry, I read through the history of this thread and realise it is not the same Shaun I am looking for. Coincidently, the Shaun I am looking for ex wife is also Chantel, and he is also an arshole!
18 Mar 2010, 08:53 am
@The Almighty Shaun: aren’t you the guy who’s x wife took him apart here on KEo… telling us all what a pathetic human being you are….
18 Mar 2010, 09:15 am
Remind me not to **** on you guys
18 Mar 2010, 09:16 am
@Wikus van der Merwe:
That’s the one.
18 Mar 2010, 09:25 am
Jisaaik it, it’s been a while since I’ve seen a thread like this. Hectic.
On the sporstmen and money issue:
We all know that to be one of the best at any sport you have to be supremely talented. Tiger is. So is Le Bron. So was Marino. And Pierre. BUT, so is Ryk Neetling, Ian Thorpe and Phelps, and yet they earn a fraction of the amount that the others do. So it’s not really about talent is it? It’s about the marketability of the sport and the athletes, and TV rights and viewers etc.
18 Mar 2010, 10:08 am
Hi all the “the almighty shaun” is banned – this is a rugby site, to discuss rugby… please take politics and raciest arguments to other blogs that will tolerate them.
18 Mar 2010, 10:18 am
@Roy: lol so you should really change your name to the almighty ROY then….?
18 Mar 2010, 10:21 am
@Roy: Thanks Roy.
18 Mar 2010, 11:19 am
@Roy: hey Roy, hoe gaan dit my broer! Sterkte man…
18 Mar 2010, 11:25 am
@Roy:
About time, you can do the same to that other weird race obsessed freak, Skopskiet.
Despicable to us overseas visitors.
18 Mar 2010, 11:42 am
hey Trans, all well this side – all good your side?
18 Mar 2010, 11:43 am
@Aus_Rebel: has he been out of control again?
18 Mar 2010, 11:49 am
@Roy:
Same old same old anti white Dutchie sentiment ad nauseum.
Pathetic having to read his dribble on a sports site.
18 Mar 2010, 11:59 am
I’ll have a chat to him, he does know his rugby
18 Mar 2010, 12:03 pm
skop hasn’t been too bad lately …. ..
18 Mar 2010, 12:54 pm
@Aus_Rebel:
Who are you to say who should be banned or not.
18 Mar 2010, 19:43 pm
@RugbyRulz: 117 crapping on people isn’t nice.
18 Mar 2010, 19:47 pm
@Roy: roy….thats B Sh …t
Skop is great ….dont listen to these morons here.
18 Mar 2010, 20:02 pm
@grant10: sorry grant but aint it amaizing how you over look skops swearing and insulting of others and accept it and others are morons??
even recently i have been insulted by him for being active on another blog?? and thats right in your eyes??
you forget someone like Roy sees whats being said day in and day out , and surely thats all the evidence they need
18 Mar 2010, 20:13 pm
this Aus Rebel character is an impostor fraud, none other than that two bit chicken running Mr Money Man Bric a brac Cryme-a-river Bryce the Ozshmoz wannabe fool. I betcha.
18 Mar 2010, 20:25 pm
When did I swear and insult you poor little chicken runner Sharky Lover, I just called you exactly what you are when you come over here looking for converts to your *** lick club.
18 Mar 2010, 20:29 pm
@skopskiet: listen son of a ( you know the rest ) come say it to my face you yellow bellied inbred piece od ****
18 Mar 2010, 20:30 pm
Roy i thought you said this trailor trash was banned???
no wonder you guys lose so many bloggers when you allow racist trash like this on your site
for the sake a a few rats you have lost so many
18 Mar 2010, 20:35 pm
@sharks_lover: 133
Ja…roy sees you like a cheap ***** prostituting and touting for customers like a filtyy snake….screw you SL…you should be banned…
They ban skop i am outta here too….you a cheap hustler…sanctimoniuos snivelling little wally!
18 Mar 2010, 20:38 pm
@sharks_lover: Trailer trash??
You a bloody prostitute man!!
Why do you come here….?
Just to attract okes to RT?
Sis on you man….you have no honour…none.
18 Mar 2010, 20:41 pm
leave him be Grant two faced schmucks like this idiot ain’t worth the time of day
And any day of the week to you Shark schmuck schmo, any which way, two face good for nothing 2nd grade twaddle that you are.
18 Mar 2010, 20:46 pm
@skopskiet: 140
That bloody oke gets up my nose….i cant believe the blatant touting….disgrace …and then he aske that others get banned?
Heavens sake man!
18 Mar 2010, 20:56 pm
Yeah I know Grant, that crowd got no scruples, none at all whatsoever, they run off and form their own little snake in the grass back slap club, then have the gall to come over here touting for converts like real cheapo’s, and then to top it off come here enticing the moderator to have other bloggers banned who have been honorable to this site throughout in spite of their two bit shenanigans.
They got zero compunction to come over here and be the unscrupulous and underhand two faces they are, those are the type people you deal with from that 2 bit second grade underhanded conniving community.
Pages: « 1 2 [3] Show All
Have your say
You must be logged in to post a comment.