Chiefs lose out as CRACKiT buys City Polar stake
Boitumelo Khutsafalo | Saturday August 13, 2022 06:00
The company, through its CEO, Moemedi Senwelo had initially expressed interest in acquiring shares at Magosi after they transformed into a company. However, the local entrepreneur yesterday revealed to Mmegi Sport that the proposal to Chiefs failed because he was told the club would not sell shares. He said Chiefs offered him a management contract, which he felt was not what he was looking for.
He said his interest was something permanent and felt with the management contract, it could be terminated anytime. He said City Polar then offered him 40% shares, which he gladly accepted.
The club, campaigning in the Kgatleng Regional Football Association Division 1, will now be called CRACKiT City Polar. “They have given us 40% shares and we will be responsible for the management of the club. The intention is to take this club to greater heights. For now, our aim will be to gain promotion to the Debswana First Division. After that we can dream of the Premier League,” Senwelo said.
The club also confirmed the arrival of new partners. “We have partnered with CRACKiT Tuition Botswana to transform our team into a formidable side that will compete in top-flight football. Some changes to expect are City Polar Football Club to be renamed CRACKiT City Polar FC. Senior team to train at Masa Primary School in Phase 2, Gaborone.
However, all home games are to be played at City Polar Stadium in Ramonaka,” the club articulated in a statement. Last season CRACKiT gave Magosi P200,000 in a bid to help the club battle for promotion to the Premier League. Meanwhile, CRACKit Tuition will host a one-day football spectacular on August 27 at Lobatse Sports Complex.
The tournament will feature crowd-pullers, Extension Gunners, Township Rollers, Chiefs as well as Masitaoka. Senwelo said all the featured clubs have already signed an agreement. He also said the Botswana Football Association (BFA) has also given them the green light to host the tournament.