The country's heavyweight unions landed a significant victory on Friday after the South African Rugby Union SARU confirmed it would appoint a financial institution to review its financial position.
The decision was taken at a General Council meeting held at OR Tambo International in Johannesburg on Thursday where SA Rugby's members mandated the Executive Council and management to initiate a new process following the failure to reach the required 75 majority of a private equity investment proposal by the Ackerley Sports Group ASG in December.
READ SA Rugby unions band together to plot way forward
Earlier in the week, the seven unions that in December were against the ASG private equity deal - the Bulls, Stormers, Sharks, South Western Districts, Griquas, Boland, and Free State - came together to provide SA Rugby with a 'blueprint' of due diligence and accepted practice they believe should be followed should such a deal be entertained again.
In a signed letter that was sent by the unions and acknowledged by SA Rugby on Monday, half of the country's rugby bodies asked SA Rugby to set up a Transaction Committee TC of six people to manage any future potential equity deals.