Cape Town Stars to buy out Dutch shareholding in Ajax Cape Town
CAPE TOWN – The Mother City-based Ajax Cape Town on Monday confirmed that minority shareholders Cape Town Stars (49%) has agreed to purchase the majority shareholding (51%) held by the Dutch Ajax Amsterdam.
The agreement that comes into effect on 1 October 2020, means that the Cape Town team will also undergo a name-change.
A statement from Ajax headquarters at Ikamva read: "Cape Town Stars, the South African minority shareholder of Ajax Cape Town has reached an agreement to take control of the franchise."
"Cape Town Stars, the 49% shareholder of Ajax Cape Town, is pleased to announce that they have reached an agreement to acquire the 51% share of the GladAfrica Championship franchise from Ajax Amsterdam with effect from 1 October.
"Cape Town Stars will shortly be in a position to advise on the way forward with regards to the future of the franchise."
Club Statement. pic.twitter.com/BsP1waIgtF— Ajax Cape Town (@ajaxcapetown) September 28, 2020
Ajax Cape Town came into being 21 years ago when Cape Town Stars sold the controlling shares – and subsequent naming rights – in the club to Ajax Amsterdam.
One of the Ajax Cape Town stars who made his name as a young player is former international star and Cape Town City coach Bennie McCarthy who, at the age of 17, was signed by first division club Seven Stars.
His sterling performance at Stars earned McCarthy a transfer to Cape Town Spurs which two years later merged with Seven Stars to form Ajax Cape Town.