Kaizer Chiefs could find themselves at the centre of a ownership dispute over 50% of their shares.
Chiefs are known to be majority owned by the Motaung family and are famously known as a “family business”.
Chiefs ownership dispute
Over the years there have been various arguments about the full ownership of Chiefs doing the rounds. However, none seem to stick as the Motaung family remain unshaken and unaffected. With Amakhosi being the most decorated club in South Africa and a marketing juggernaut due to their stature, their value is unmatched. Therefore, it is no surprise when people want to claim a piece of the pie themselves.
The latest to come forward is 36-year-old business man Tumelo Selamolela. According to City Press, he claims that his late father Eric Selamolela had bought 50% of Chiefs’ shares. He claims that he has been excluded from the dividends payments from the club, which should come from the alleged share ownership. Tumelo also then demands reinstatement and unpaid dividends via a Nov 19 letter. The club hasn’t responded.
Selamolela claims 50% stake!
It now remains to be seen if Chiefs will at all respond to Selamolela’s claims or just dismiss them. Besides the majority ownership stake from the Motaung family, board member Mike Nkuna also owns a huge stake. It is reported that the billionaire businessman has a 37% ownership of the Phefeni Glamour Boys but is hardly seen or heard of.
In March 2024 there were even rumours that Nkuna was interested in a full ownership takeover at Chiefs. But he quickly dismissed those claims saying:
Nkuna last rumoured shares takeover
“It is regrettable that the current statements circulating on social media referencing to intentions by Dr Mike Nkuna to purchase Kaizer Chief are false. He has expressed his reluctance for any administration [role] of the Kaizer Chiefs F.C., thus refuting the assertion to bring in players and new management. Noteworthy Dr Nkuna remains a committed board member of Kaizer Chiefs F.C while his primary focus is on property development.” Nkuna said through a statement received by FARPost.
What do you think Makhosi?
Chiefs fans, what do you think of the claims by Selamolela? Feel free to comment your thoughts and feelings below.