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Gunners go private

SHARE   |   Monday, 14 March 2016   |   By Othusitse Tlhobogang
Gunners go private

Extension Gunners management is currently working round the clock to pave way for smooth transition into the ranks of professionally-run clubs. The team has already identified a financier who will be buying an 80% stake of the club leaving 20% to the supporters or society. Gunners management is adamant that the process is going on very well to avoid any misfortune that might happen in future resulting from the privatisation. Gunners spokesperson, Edwin Mabapa, said all due course is being followed to avert any future trouble. Mabapa said the mandate to find an investor was given by the supporters at an extra ordinary meeting held on the 6th February 2016 in Lobatse. According to Mabapa, the supporters - who have basically been financing the club as it is currently run on gate takings - called for the identification of an investor to help them run the club.

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To avoid any misfortune Mabapa revealed that they set up a one-man task force to look into whether Gunners constitution allow for privatisation. Tshiamo Rantao has been appointed by Gunners management to man this task force. “We need to establish if our constitution permits privatisation. This is to make sure we avoid offending the society and even the constitution itself,” said Mabapa. The task force’s findings were expected to be delivered to management by end of business on Friday. Mabapa, however, said there is flexibility given the magnitude of the work at hand. He nonetheless believes that Rantao who is conversant in law and football will be able to do a thorough job.  Rantao has been indulged with football matters for some time. He has been Botswana Premier League’s prosecutor among others. “Since we were given the mandate we have since identified an investor and went back to the society to notify them. The financier asked to be given 80 per cent of the club with society getting 20. They have also given us a go ahead with this and we will soon be getting back to them on the progress,” highlighted Mabapa.

 
He said they want the process to be flawless as it will benefit the team greatly. The Peleng side has been struggling financially and it is believed that the move will breathe new life into the former giants. “It is our solemn aim to see the team have a sustainable cash flow as cash has always been the problem for the team. With healthy cash flow we will be able to run the club to glory as we will be able to buy players and take care of their welfare,” said Mabapa. Even though the investor has been found, his/her identity remains a heavily guarded secret. This publication has established that an agreement has been made with the said individual to withhold his/her identity until everything is concluded. There have been claims that of the 20% that would be allocated for the society 10% could be given to another potential investor. Gunners’ spokesperson however quashed such claims, saying there will be only one investor. He revealed that there were once talks that some more investors had interest in the team and as a result an expression of interest was circulated in the media. “After seven (7) days of the notice we did evaluation and we ended with only one investor who was initially identified,” he said.



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