Mmegi Online :: Motlakase stadium goes under the hammer
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Last Updated
Thursday 20 September 2018, 12:14 pm.
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Motlakase stadium goes under the hammer

SELEBI-PHIKWE: Jago Investments PTY LTD is in the process of selling the stadium belonging to Motlakase Power Dynamos PTY LTD, the company that owns Premier League outfit Motlakase Power Dynamos.
By Onalenna Kelebeile Thu 06 Nov 2014, 10:59 am (GMT +2)
Mmegi Online :: Motlakase stadium goes under the hammer








The stadium that is situated in Khurumela ward in Palapye is said to be auctioned over default payment of a loan.

The property is a 2. 5881 hectare piece of land being plot 4247 with parameter wall, two large gates and three small ones.

It is understood that Motlakase Power Dynamos owes the plaintiff an amount in the region of P1.5 million.

The property will be sold by public auction by deputy sheriff Bathusi Billy to the highest bidder early December. Defendants in the matter are the Motlakase Power Dynamos directors Gaolathwe Kelesitse, Samuel Kelaotswe, Mangisi Segadimo and Joseph Gampone.

Jago Investments Attorney Morris Ndawana of Ndawana and Company confirmed this during an interview and said his client is owed about P1.5 million and the defendants have been unable to service the loan for about two years now.

“In an effort to recover the loan my client is attaching the property and very soon we will be selling it by public auction,” he said.

Ndawana further stated

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that the only way the attachment of the property could be prevented is by way of making some payments towards the loan.

“If they make payment my client will reprieve,” he added. Contacted for comment Motlakase Power Dynamos chairman Mangisi Segadimo said he was not aware of the possible auction of the stadium.

But said what was initially agreed was that directors shared the expenses of servicing the loans and paying players salaries among themselves.  He however could not be drawn into giving much detail.

Those close to the developments stated that the problem emanated from the fact that when the stadium started being developed around 2009/10 the directors underestimated the cost hence under quoted.

They incurred a lot of expenses in travelling to honour fixtures and this weighed heavily on the effort to plough the lawn in the stadium.

The stadium has never operated because it does not have a lawn despite that everything was done including installation of the irrigation system.

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