The IT billionaire and entrepreneur Robert Gumede has bought a 49.9 per cent stake in South African rugby team Golden Lions.

Following a closed competitive bidding process, Gumede now becomes the first black owner in South African rugby club ownership. He completed the deal with his business partner Ivor Ichikowitz.

Gumede said his purchase was inspired by the team's move to play in the Orlando Stadium for the latter stages of the 2010 Super 14.

Gumede said: "That game convinced me of the potential of rugby and reminded me of the nation building ability of the game. Lions Rugby Club, in particular, has a proud history and has shown in the past their power to contribute to the game in South Africa in general.

"We are investing for performance. Our aim is to drive this team in every respect, so that we develop the franchise at all levels, from the junior ranks all the way to the Super Rugby team. We want the Lions leading the pack, taking it to its next level, and contributing Springboks to this country."

Gumede has previously owned former South African football team Dangerous Darkies.