Gunners’ privatisation at final stage

SHARE   |   Monday, 06 June 2016   |   By Staff Writer
Gunners’ privatisation at final stage

Extension Gunners management claims that their privatisation project is about to be completed. Team Chairman Phenyo Gothaang, has this week revealed that revealed that the privatisation process is about to be concluded after two postponement for the launch of the new investor. He called on Gunners fans to be calm as they are currently rapping up the process. According to Gothaang, the investor will be unveiled very soon, without explaining what is holding up the process. Even at this point Gothaang is declining to reveal who the investor is. The hostile chairman said “why would we reveal the investor now while we did not do so in the past”. He cited issues of privacy until the process is concluded. However, those close to the management have revealed that one Bheki Thwala is the potential investor. Thwala is said to be a citizen of Swaziland. 

This publication is also reliably informed that Tshiamo Rantao, who was appointed by Gunners to look into whether Gunners constitution allows for privatisation, has concluded his duties and handed recommendations over to the management.  According to Gunners spokesperson, Rantao was roped in so that the privatisation could be done in a lawful manner to avoid complications. As it is, the proposed model is that the investor will get 80 percent stake with the remaining 20 going to the Gunners community. After finalising everything it is expected that the new investor will inject about P2 million as sponsorship to the club. Most feel the sponsorship will come handy for the struggling Gunners and ensure that they to get back to glorious days. The team has been struggling this season not only in the pitch but also at management level. At some point supporters took things in their own hands to oust the then chairperson Kitso Dlamini after they lost confidence in him.

At the moment the Peleng outfit is operating without a full executive committee after the resignation of four members. The members - club secretary Ian Kebopetswe, vice chairman Cassim Dada, national secretary Jobe Brown and president Alex Masie – left the club in early April 2016. The four reportedly left the club in protest at the chairman’s leadership style. The four officials are yet to be replaced as the club is still on break since the end of the season.  Asked when they will be replaced to normalise the committee Gothaang said; “why should they be replaced when there is an Annual General Meeting coming up?” Gunners are expected to hold an AGM in July and it is at this meeting that the committee members who left will be replaced.