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Kaizer takes charge at Chiefs

By Ramatsiyi Moholoa | Sep 22, 2010 | COMMENTS [ 81 ]

KAIZER Chiefs boss Kaizer Motaung has bought back the 40 percent share he sold to Primedia in a deal believed to be worth more than R70 million.

Sources close to the two parties confirmed the figure but Sowetan could not independently verify it.

Motaung sold the 40 percent stake for R40 million in 2004 in what was seen as a bargain for Primedia considering Chiefs' stature. The club was housed in the sport division of Primedia Advertising.

Motaung also served on the board of the entertainment giant.

The company's former chief executive, William Kirsh, was instrumental in the acquisition of the stake in Chiefs. Kirsh resigned from the company in August last year. Motaung is now the main shareholder of Amakhosi, where he is also the chairperson. Other directors of Chiefs include Motaung's daughter Jessica, Hamid Muhammad, Bheki Shongwe and Wilfred Ngema.

Motaung, who is also a member of Safa's national executive committee as a representative of the PSL, formed the club in 1970.

Primedia Group owns Talk Radio 702, 94.7 Highveld Stereo, 94.5 KFM and Ster-Kinekor.

The company's group chief executive, Kuben Pillay, said they were proud of their association with one of South Africa's most successful soccer teams.

"Primedia has had a sound relationship with the club for many years, but we have reached the stage of focusing on our core competencies and areas of expertise. In line with such core competence, Primedia will continue to offer to serve Kaizer Chiefs in its commercial ventures."

Motaung thanked the diversified media company for its contribution to the club's growth.

"Primedia has been a good partner to Kaizer Chiefs and we enjoyed a good relationship with them. We thank them for the manner in which they have always engaged with us," he said.

"Furthermore, we are pleased to confirm that our collaborations will continue in a number of areas where our businesses share common and mutual interests.

"This brings about a new era at Kaizer Chiefs."

 

COMMENTS [ 81 ]

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At long last Bra K is the solo owner, he meaned business sorry for Pirates, Chiefs is starting to collect trophies and millions by winning against Pirates on Sunday.
players knowing that the whole family need only win they will sent pirates for packing.

Sep 22, 2010 7:27 | 0 replies

Fellow Footbal Fanatics I greet you!

Let me first congratulate Mr. Motaung for claiming back what belongs to him - 100% ownership of "The glomour Boys". the acquisition of the remaining 40% clearly indicates and proves that you're indeed a business genious as you spend where there is a need to and not just splash your cash.

To those that say football was never meant to be run like a business you need to remember that starting a football club requires finance and to maintain it requires more finance. for these reasons, football clubs therefore, should and have to be run like a business as they are businesses.

Where one has investmented money, one has to ensure that the same investment yields good profit. Mr. Motaung is contributing immensely to job creation and poverty eliviation as he has employees who are now able to take care of their families.

Sep 22, 2010 10:6 | 0 replies

Goli
xxxxxxxxxxxx
Running a business is about the bottom line only, well let's see where that takes football in the future. I am in no way advocating that football clubs be run like spaza shops, yes there should be some form of organisation and planning that is allowed, but it shouldn't be prostituted to big corporations as just another consumable commodity. Football is much much bigger than that.

Sep 22, 2010 10:12 | 0 replies

Mr Editor please STOP misleading the public. "Motaung sold the 40 percent stake for R40 million in 2004 in what was seen as a bargain for Primedia considering Chiefs' stature".

In fact Motaung sold the 40 percent stake to Primedia for R40 million in 1995 not 2004.

You must get your factors straight before you report rubbish. I Pause!!!

Sep 22, 2010 10:25 | 0 replies

Now is the time empower the real makhosi. Please Ntate Motaung would you consider selling 10% to us, the paid-up-card-carrying-makhosi-for-life.

Sep 22, 2010 10:28 | 0 replies

@Macdaddy

im not suprised about your negative comment on this article. After all your mission is to be negative on anything that invloves black people. leave soccer alone and consentrate on ruby.. le buru ke wena

Sep 22, 2010 10:34 | 0 replies

this kak must go to the sports section! finish n klaar...

Sep 22, 2010 10:45 | 0 replies

pirates is coming at the weekend.

Sep 22, 2010 10:48 | 0 replies

bhande
@Macdaddy

im not suprised about your negative comment on this article. After all your mission is to be negative on anything that invloves black people. leave soccer alone and consentrate on ruby.. le buru ke wena
xxxxxxxxxxxxx
Bhande ndikuncamile ndoda, uyandihlekisa one. By the way what is negative about my comment, that is what I observe about the direction the beautiful game is going.

Sep 22, 2010 10:58 | 0 replies

Some people are furtunate out there. So wish i was a tea girl in that company.

Sep 22, 2010 10:5 | 0 replies

MacDaddy and Bomb, you need some education gents, running a football club is a business within the spheres of companies act. The league title is the only determining factor for a successful club. Cup games give you the most return as you invest & expense less but when you progress in the competition the return is high (winning it everyone gets bonus).
Thumbs up for Chiefs for running the club so professionally, mind how you manage the brand determines the future of the club/business.
Get informed and comment.
League is a marathon, don't be fooled by coaches statements saying winning the league shows true champions, just a think a little maybe you'll agree with the rest

Sep 22, 2010 9:56 | 0 replies