Majombolo’ executive committee has announced the conclusion of the club’s ownership transition to 99.99 Sports, led by Floyd Mbele.
The club chairman, Busani Segweni said the transition process was conducted with exceptional integrity, transparency and professional cooperation by all parties involved. He told Mmegi Online that they found investors and gave them full control of the club. “We held two consultative meetings with Nico supporters and they gave us a go ahead, it is not the decision of the executive committee. Under the new ownership structure, Nico United Sporting Sports Club retains a minority shareholding in Nico United FC (PTY) Ltd, thereby ensuring a continued custodial link between the club’s rich heritage and its professional future. This structure further provides the football club access to both the women and youth teams, reinforcing a holistic and sustainable development pathway,” he said.
Segweni said in most instances, investors run away because they do not have control of the club, hence they decided to give 99.99 Sports full control of the club. He explained that despite the new ownership, the club is not relocating from Phikwe, it is not changing its name nor its colors. He said throughout the negotiation process, both parties demonstrated a remarkable level of harmony, and mutual respect, laying a strong foundation of goodwill for the new era. He added that the seamless transfer of ownership stands as a testament to a shared commitment to the club’s best interests and its enduring legacy.
Attribution: https://www.mmegi.bw/sports/nico-united-change-ownership/news