Absa Premiership

Comitis' sell Ajax shares

2013-07-02 10:16
George Comitis (Gallo)

Bucs' new kit - teaser

2013-07-02 08:06

The Orlando Pirates 2013/14 kit - teaser video.

Cape Town - After an ongoing feud between the two families that own 49% of Ajax Cape Town, the Comitis brothers have made the decision to sell their shares in the club.

According to the Football411 website, CEO George and Honorary Life Chairperson John had been locked in a power struggle with co-owners the Efstathiou family that had threatened to dismantle the Cape Town club.

It was rumoured last year the Urban Warriors were set to be liquidated, however, majority shareholder Ajax Amsterdam intervened with a strongly worded statement insisting they would not allow that to happen.

The Comitis brothers decided it would be in the best interest of the club to either sell their shares or offer to purchase the Efstathious' stake, and the latter have now opted to take the Comitis brothers up on their offer to sell.

A statement from the brothers read:

"After a very tough season, where we fought hard until the end against the possibility of relegation, and successfully saved our PSL status for next season, one of the families had to take a positive step in putting their personal interests aside for the good of the club. We therefore decided to offer to sell our shares or to buy the shares held by the Efstathiou brothers, at the option of the Efstathious, at the same price, which was to us the only fair way to do it.

"Cape Town could not afford to lose its last PSL club and we could not allow family feuding to ruin Ajax CT and the relationship with Ajax Amsterdam, which we have nurtured and developed for over 12 years, since putting the deal together which brought Ajax to South Africa in the first place.

"The Efstathious have elected to accept our offer to sell our shares, rather than our offer to buy their shares, and we are happy either way that Ajax Cape Town is the winner, with the guidance of Ajax Amsterdam to count on. Our first prize was to remain on, but unless we took this bold step to make this offer, the wrangling would only have continued to harm the club into next season and beyond.

"With Muhsin (Ertugral) at the helm and the contacts we have already initiated during the off season for the strengthening of the squad, and which we willingly pass over to the new administration, we have every confidence that the club will bounce back and have a successful season."

Read more on:    ajax cape town  |  psl  |  cape town  |  soccer

What To Read Next


Read News24’s Comments Policy

24.com 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
Comments have been closed for this article.
Live Video Streaming
Video Highlights
Sport Talk

Tuesday, 19 December 2017
Mamelodi Sundowns v Cape Town City FC, Loftus Versfeld Stadium 19:30
Wednesday, 20 December 2017
Bloemfontein Celtic v SuperSport United, Dr Molemela Stadium 19:30
Friday, 05 January 2018
Wits v Free State Stars, Bidvest Stadium 20:00
Ajax Cape Town v Maritzburg United, Cape Town Stadium 20:00
Team P W PTS
Previous Results

Date Home Team Result Away Team

Do you think SAFA made the right choice in appointing Stuart Baxter as head coach of Bafana Bafana?

Love 2 Meet
Sport24 on Twitter

Follow Sport24 news on Twitter

English Premiership flutter

Take Sport24's "expert" tips at your peril...


The 2017/18 Absa Premiership season is under way. Can Bidvest Wits defend their title? Will Soweto giants Kaizer Chiefs or Orlando Pirates emerge victorious? Or will the bookies' favourites, Mamelodi Sundowns, taste success for a record eighth time? Stay glued to Sport24 to find out!

Latest blogs

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

RSS Feeds Sport news delivered really simply.

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