Buyer swoops for Swallows

2010-08-05 20:11
Moroka Swallows (logo)

Johannesburg - A new and realistic buyer has swooped to buy Moroka Swallows from the estate of late German multimillionaire and entrepeneur Dieter Bock and a sale of the club termed "The Beautiful Birds" is expected shortly.

This was announced on Thursday by Swallows chairman and managing-director, Leon Prins, who said a confidential agreement existed with the interested party and he was therefore not at liberty to disclose the potential buyer's name.

However, Prins said the sale was "imminent", but the finalising of the terms was unlikely to be completed before the launch of the Premier League programme later this month.

"In the meantime," added Prins, "the day-to-day running of the club will be unaffected as the executor of Mr Bock's estate has proved most co-operative and understanding and we have formed a good working relationship."

Prins also stated that, in all probability, he would remain with The Birds for at least a year or two after any sale was completed during what would be a transition period. The latest development seemingly rules out the sale of the club to Namibian interests or a disgruntled group of present minority shareholders whose stake in the club is in the vicinity of 16 per cent as against the 84 per cent shareholding in the Bock estate.

Ironically, the 72 year-old business mogul, who died of a massive heart attack, had already placed Swallows up for sale shortly before his death.

The marriage of opposites between the wealthy German businessman and Swallows, the one-time giants of South African soccer, was at that point already on the rocks and heading for the divorce courts.

Although Swallows received something of a lifesaver and achieved moderate success after Bock bought the overwhelming majority shareholding in the club from the late David Chabeli, some six years ago and injected much-needed finance into the club, the old dynamism and charisma of the Soweto glamour club, which came into existence in 1947, was never truly recreated.

In a statement before his death, Bock said he felt that with the many opportunities existing in the growing African soccer market, Swallows' development would be enhanced by a fresh owner or co-owners buying into the club - or taking over completely.

Almost eerily, his assesment will now come to fruition.

In the 1980s under Chilean-born coach Mario "the Godfather" Tuani, Swallows boasted one of the most skillful and exciting club combinations yet seen in the South African soccer spectrum, with players of the calibre of Thomas "Whose Fooling Who?" Hlongwane, Aubrey "The Great" Magkopela, Ace Mnini, Sam "Happy Cow" Mnkomo, Aaron "Roadblock" Makhathini, Sulie Bhamjee, Gavin Easthorpe and the South American international defenders, Mario Varas and Raul Gonzalez

And now, it would seem, The Birds are again at the crossroads - with the need for new viable ownership the key to this legendary soccer phoenix rising again.

Read more on:    moroka swallows

Banyana too good for Kenya

2015-08-02 18:25


Read News24’s Comments Policy publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Add your comment
Comment 0 characters remaining
Live Video Streaming
  • Blitz
    Tue, 29 Jul 2014 @00:00
  • Blitz
    Mon, 24 Nov 2014 @00:00
  • SS1
    Mon, 24 Nov 2014 @01:00
  • SS2
    Mon, 24 Nov 2014 @02:00
Sport Talk

Love 2 Meet

Got something you'd like to get off your chest? Got a burning desire to air an opinion? If so, be sure to sign-up on Sport24's FORUM!

Latest blogs

Bafana Bafana have been drawn with Cameroon, Gambia and Mauritania in the qualification stages for the 2017 AFCON tournament. Where will Shakes Mashaba's men finish in their pool?

Twitter Follow Sport24 on Twitter

Facebook "Like" Sport24's Facebook page

WIN Enter and win with Sport24!

BlackBerry Stay in the loop on your BlackBerry

iPhone Latest Sport24 news on your iPhone

RSS Feeds Sport news delivered really simply.

There are new stories on the homepage. Click here to see them.