What if we judged rugby franchises not on loyalty or legacy—but on cold, hard business fundamentals?

In this episode of the Lekker Rugby Pod, Harry and MW treat the Bulls and Stormers like corporate assets under review. No romanticism. No emotion. Just a forensic audit of performance, structure, value, and long-term sustainability.They apply a due diligence framework—the kind you'd use before buying a company—to two of South Africa’s biggest rugby brands. What’s the return on investment for each franchise? Who’s extracting full value from their player pool? And how well are leadership, coaching and culture aligned with performance goals?

The Stormers, despite boasting a talented squad and solid private backing from Red Disa, look disjointed—especially up front and in defence. Harry and MW question whether the root problem lies in John Dobson’s leadership or a dysfunctional coaching structure, and whether the systems around him are designed to sustain excellence or simply coast on momentum from previous seasons.

The Bulls, by contrast, reached another final—but did they max out their potential, or expose cracks in Jake White’s tactical planning and assistant coaching setup? The conversation tackles Jake’s all-powerful role at the franchise, and whether the Bulls would benefit from a neutral “rugby consigliere” to challenge ideas and expand their long-term vision.Harry proposes a simple but powerful shift: stop thinking like coaches and start thinking like owners. Look at squad depth, injury risk, player happiness, system resilience, leadership development, and tactical flexibility—not just match outcomes.

It’s rugby analysis reimagined through the lens of private equity, high-performance culture, and strategic planning. No sacred cows. No excuses. Just a blunt question: if these teams were on the market… would you invest?