Bafana - price now R41m
Cape Town - R41m is the latest asking price for the Bafana Bafana brand.
But the South African Football Association (SAFA) is not taking the bait and is redoubling efforts to find a new name for the national soccer squad.
Businessman Wayne Smidt's Stanton Woodrush (Pty) Ltd, which registered the Bafana trademark in 1993, has proposed the R41m price tag to SAFA to buy back the name, a senior SAFA official told City Press.
"In the spirit of negotiations I can't comment," Smidt said yesterday (Saturday).
Stanton Woodrush co-owns SAFA Legal and Management, the company that owns the Bafana trademark with SAFA.
Smidt also wholly owns the trademark for Bafana Bafana clothing.
City Press understands the SAFA leadership is viewing the latest offer as "ridiculous and unreasonable" and will go ahead with its plans to change the national team's name.
SAFA vice president and chairperson of the negotiating team Danny Jordaan yesterday (Saturday) did not want to elaborate on the matter, but said SAFA would rather find a new name than part with a cent.
Jordaan hinted that SAFA was reluctant to let an individual take advantage of the national asset.
"We have not officially sat down as the committee to consider the offer, but personally I'd rather we find a new name. The sooner we close this chapter the better for everyone," said Jordaan.
He said they hoped to resolve the matter in a week's time.
Jordaan referred all further questions about the offer to SAFA's acting chief executive, Pinky Lehoko, who has received the proposal.
Lehoko was not available for comment.
Asked whether negotiations were at an advanced stage, Smidt said: "I hope the matter is resolved soon, hopefully within a week."
Sports Minister Fikile Mbalula previously said he supported a "more appropriate" name for the national football team. - Additional reporting by Adriaan Basson