Extension Gunners to join the privatization bandwagon?
Extension Gunners could join the beMobilePremier League’s privatization bandwagonafter reports surfaced that the club’s majorityshares could be purchased by Choppies Group.The club has approached several individuals andcompanies in an attempt to attract investors.Choppies Chief Executive Offi cer, RamachandranOttapath, denied the reports in an interviewwith Gazette Sport but sources have indicated thatthe company is one of the investors approachedby the club and they have made a confi dentialitypact with the companies they have negotiatedwith.Gunners’ advisor Rashid Chopdat’s connectionswith Choppies could work in the club’s favor asthey seek fi nancial investors to privatize like otherleague clubs.
Chopdat also denied knowledge ofthe reports but told this reporter that a sponsorshipdeal could be a possibility.“Those reports are new to me, maybe a sponsorshipdeal could arise soon with respect toChoppies’ reported interest but for now we canonly speculate. I have no knowledge of Choppies’interest but I can confi rm that their search for aninvestor is ongoing and an announcement will bemade if anything comes up,” said Chopdat.The Lobatse based club will hold an AnnualGeneral Meeting on Saturday (June 29). TheAGM’s main agenda could be the revelation of apotential investor.
Last year the club revealed thatthey received three proposals from prospectiveinvestors but none of them materialized.If a takeover deal is struck with any investor,the club will demand a clause which will makesure that the club retains its Gunners name, aname change would be acceptable as long as thesecond name remains Gunners.Fellow Premier League club, Notwane, is alsorumored to be lining up a similar privatizationroute. Segolame Ramotlhwa, the club’s chairman,told this publication that Toronto would welcomean approach from investors.