registering to a Satellite server failed with "ValueError: need more than 1 value to unpack"

Issue

Registering to Satellite failed with the following python traceback.

# rhn_register -vvv
Traceback (most recent call last):
  File "/usr/sbin/rhn_register", line 30, in ?
    from up2date_client import up2dateAuth
  File "/usr/share/rhn/up2date_client/up2dateAuth.py", line 4, in ?
    import rhnserver
  File "/usr/share/rhn/up2date_client/rhnserver.py", line 21, in ?
    import rpcServer
  File "/usr/share/rhn/up2date_client/rpcServer.py", line 12, in ?
    import clientCaps
  File "/usr/share/rhn/up2date_client/clientCaps.py", line 64, in ?
    loadLocalCaps()
  File "/usr/share/rhn/up2date_client/clientCaps.py", line 57, in loadLocalCaps
    caplist = capabilities.parseCap(line)
  File "/usr/share/rhn/up2date_client/capabilities.py", line 35, in parseCap
    (key,version) = string.split(key_version, "(", 1)
ValueError: need more than 1 value to unpack