FARAI Jere has bounced back at Caps United, ending two years in the wilderness.
The Harare businessman severed ties with the team in November 2012 over alleged differences with club owner Twine Phiri.
In a statement yesterday, Caps United said Jere, who was the club’s vice-president when he took the break, had remained a shareholder at the Green Machine.
“There has been speculation regarding the ownership, control and management of Caps United Football Club.
“Caps United Football Club is owned by, and is the sole asset of its holding company. 75% of the shareholding therein is beneficially held by Twine Ibrahim Phiri through Twine Con Industrial Air (Private) Limited,” a statement read.
“The remaining 25% is beneficially held by Farai Jere through Automats Investments (Private) Limited. This has been the position since February 2007.”
Caps also stated that Jere’s reinstatement to the Caps board was with immediate effect. The board was appointed in December last year to turn around the fortunes of the club.
“Farai Jere, who has not played an active role in Caps United for a year, has with effect from the 13th April 2014, rejoined the Caps United Board. Mr Jere rejoins the Board as a non-executive director,” the statement further read.
“Farai Jere, for the avoidance of doubt, has never ceased to be the beneficial owner of 25% in Caps United’s holding company. The Board is acutely aware of the need to timeously and adequately inform the broader Caps United family and the public of developments at Caps United.
“A full disclosure of the turnaround strategy, business plan, three-year plan, management and control as well as the funding requirements and strategy will be made in short course only to the extent that it is consistent with the basic tenets of corporate governance.
“The broader Caps United family and stakeholders are urged to exercise extreme patience and restraint as the Board seeks to turn around the fortunes of the Green Machine.
“Speculation, conjecture and communication other than from the Board may harm the vision and ongoing deliberations with various stakeholders.”
The Caps United board is chaired by Phiri, who is also the Premier Soccer League chairman, while Joe Makuvire is the chief executive officer.
Advocate Lewis Uriri, a well known figure in local football circles, is in charge of the secretariat, while Tutisani Nhamo holds the marketing, branding and public relations portfolio.
Khumbulani Mhlophe is in charge of the commercial interests of the club while Alex Munyaka is the board member responsible for internal stakeholders.
Medical practitioner Mordecai Sachikonye and Munyaradzi Mazhande are in charge of sporting activities and systems respectively.