TAFIC fans approve takeover bid
Chakalisa Dube | Saturday July 9, 2022 06:00
The decision came after the club held its Annual General Meeting (AGM) over the weekend.
One of the key agenda items was to discuss plans to give the club to an investor to run it. For years, there have been calls for the club to be given to an independent investor, but supporters have often not been keen to endorse the idea.
TAFIC’s financial struggles and instability have largely been attributed to the club's failure to privatise. “The supporters have endorsed a proposal to give the club to investors. Following their approval, the executive will soon roll out an expression of interest for those interested in running the club to submit proposals,” TAFIC vice-chairperson, Foster Machola told Mmegi Sport this week.
Last week, Machola disclosed that there are people who are interested in taking over the club but refused to disclose their identity on grounds that talks were ongoing.
It has been widely speculated that former chairman, Nawa is leading a consortium of investors who want to take over the club.
The group has reportedly committed to putting up an initial investment of P1 million in the club.
Machola said the club has entered into talks with two consultants to assist with how the deal with those interested in running the club can be structured. Although he declined to disclose names, this publication has learnt that the experts are Leviet Ntwaagae and renowned administrator, Ashford Mamelodi. “The club is already registered as a company.
We just want any of the two experts we are currently talking to, to assist us with the working arrangement or relationship that we can explore once we have identified an investor or investors interested in running the club,” Machola said.
TAFIC face the mammoth task of rescuing their First Division status. They will have to play a promotional play-off with two Division One teams at a date that is yet to be announced. Mmegi Sport has established that the investors linked to the club have reaffirmed their commitment to take over the club even if it drops to the Division One league.