HARARE businessman Farai Jere is the new majority shareholder at Castle Lager Premiership soccer club Motor Action, NewsDay Sport can reveal.
REPORT BY TAWANDA TAFIRENYIKA
The former Caps United director is set to acquire more than 50% stake in Motor Action and will pour in $1 million into the new deal.
The deal is set to be signed soon after a business evaluation — which is already underway — of the club has been completed.
Jere and Motor Action director Eric Rosen had a tete-a-tete on Friday where an agreement was reached paving way for the Harare businessman to buy into Motor Action, who have been looking for a partner ahead of the forthcoming season.
Jere’s adviser Godfrey Mathanda revealed yesterday that the private meeting between the two businessmen was fruitful.
He said at least seven corporates were waiting in the wings to come on board once the marriage between the two football administrators is consummated.
“The two gentlemen met on Friday (last Friday). It was a fruitful meeting and I can say it is more than 90% done. What is just left is the valuation. Jere has asked Rosen to consider a valuation exercise of the business concept first before it can sail through,” said Mathanda.
Rosen, who was not immediately available for comment yesterday, is said to be excited with the deal which he has described as “the best thing that will ever happen to Zimbabwean football”.
He is said to have chosen Jere ahead of others because of his business acumen.
Jere’s business acumen is evident through the way he is running his flagship companies, Logistica Shipping and Helco Engineering, among others, and his partnership with Rosen — also a respected businessman and football administrator — is a landmark deal for Zimbabwean football.
Once the deal sails through, the name Motor Action is set to be changed to either Helco Engineering or Logistica Shipping.
“There will be a name change once the deal sails through. But what is important is that it will be the best thing ever for Zimbabwean football. There are plans to run the club as a business. There is business potential there,” said Mathanda.
Rosen, who founded Motor Action in 2000 from the ashes of Blackpool, has been finding it difficult to fund operations of the club in this harsh economic environment.
This has compelled him to look for a partner for the forthcoming season in a bid to make the brand a professional business establishment after making a loss of over $200 000 last term.
The ambitious Harare side, who lifted the league crown in 2010 — their best achievement since their formation — believe they can repeat the same feat with this partnership.
Motor Action is one of the only four clubs that have continuously participated in the elite league during its entire lifespan without being relegated to the unfashionable division one league.
Jere quit Caps United towards the end of last season following differences with club president Twine Phiri over the shareholding structure of the team.
Initially, he held a 20%
stake in Caps United (Pvt) Ltd and it was set to be increased to around 45% last year.
He, however, eventually quit after his shareholding in the club remained stuck at 20%.
Caps United are currently in turmoil with players refusing to train over unpaid salaries and allowances.
Coach Mkhuphali Masuku and seven senior players have been fired leaving Brenna Msiska as favourite to take over the hot seat.