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Former Boss reveals Sharks financial troubles

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Former Sharks Boss Brian van Zyl has revealed that the Sharks are allegedly suffering from dire financial troubles which could be behind CEO John Smit’s departure.

Van Zyl has written an open letter to Durban newspaper The Mercury and alleges that the Sharks are in dire financial straits and that debts has grown over the last three years.

The former Sharks boss left the Union in 2013 to retire and was replaced by former Springbok captain John Smit with Graham Mackenzie the president of the KZNRU.

Smit shocked Sharks rugby fans earlier this season when he announced that he would be leaving the Union in October which prompted Van Zyl to ask questions about Smit’s leadership.

Shortly after Smit was appointed John Plumtree was let go and then replaced by Jake White who lasted almost a year.

Since then the Sharks attendances appear to have dropped which could be adding to the financial troubles.

Smit says that he is quitting Rugby Administration in order to spend more time with his three children.

Last week the Australian Rugby Union stepped in to take control of the Western Force while the Reds recently announced that they lost almost $2 million last year and worryingly attendances have dropped further this season.

The Southern Kings were taken over late last year by the South African Rugby after the Eastern Province Rugby Union ran up debts of what could be as much as ZAR120 million.

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