Dutch Eredivisie giants Ajax Amsterdam have ended their ties with Glad Africa Championship side Ajax Cape Town with immediate effect.
In a statement released on Monday evening, the Urban Warriors said Cape Town Stars, who own 49 per cent of the shares, will take control of the franchise effective from October 1. This follows Ajax Cape Town’s failure to win promotion back to the DStv Premiership from the GladAfrica Championship for a second season running.
“Cape Town Stars, the South African minority shareholder of Ajax Cape Town has reached an agreement to take control of the franchise,” the statement read.
“Cape Town Stars, the 49% shareholder of Ajax Cape Town, is pleased to announce they have reached an agreement to acquire the 51% share of the GladAfrica Championship franchise from Ajax Amsterdam with effect from 1 October.”
“After 21 years of partnership with their Dutch counterparts, Cape Town Stars will be acquiring full control of the South African club.
“Cape Town Stars will shortly be in a position to advise on the way forward with regards to the future of the franchise.”
Meanwhile, in their own statement, Ajax Amsterdam stated that it will shift focus to other markets.
“AFC Ajax NV has reached an agreement for the sale of 51% of its shares in Ajax Cape Town to the minority shareholders. The transaction is set to be completed on or before October 1‚” the Ajax Amsterdam statement read.
“After the strategic reorientation‚ which was reported in February 2020 during the presentation of the half-year figures‚ Ajax concluded that the ambitions and results in Amsterdam are in too great a contrast to the development of the football market in South Africa.
“Ajax has expressed the ambition to reach the top of European football and in recent years the South African football market has not produced enough talent at the level that Ajax strives for.
“Moreover‚ Ajax does not see sufficient potential for the future.
“The club has shifted its focus to other markets. Ajax Amsterdam has been a 51% shareholder of Ajax Cape Town since 1999.”
