African Stars finally turned a new page in its 57 years of existence, after local businessman Sidney Martin yesterday officially announced he has now acquired the team with a view of turning it into a commercial entity.

Martin will now have a 50 per cent stake in the team that has been turned from an association into the African Stars Sports Club Pty, Ltd. The other 50 per cent is up for grabs and whoever wants to have a stake in the club can buy a piece of it according to categorised share prices.

The share prices are categorised as N$100 which is the cheapest, N$1 000, N$5 000 and the highest is N$10 000 per individual or organisation. Application forms can be picked up at Ueitele and Hans Legal Practitioners.

Martin, who was flanked by prominent Windhoek lawyer and ex-member of the management committee member Patrick Kauta, agreed that whoever buys into the shares will have voting rights at the club's highest decision-making organs which are yet to be formed.

Martin explained that he will be the chairman of the African Stars Sports Club (ASSC) and that apart from it, there are two further entities which are the Sports 500 Investments and the Trust.

He said the ASSC will consist of a board and six directors, of which Martin will choose two of his choice, while three additional directors will hail from the investment club.

He said the main purpose of commercialising the club is to make profit in the end and to achieve that, there will be a lot of challenges in the process.

"It's not an overnight thing and we need to realise that sponsors also need returns on their investments, while we have to account for every cent and take responsibility for our actions," he said.

NOT EASY

Martin said it won't be an easy path and he will need co-operation from all the stakeholders because the club is now in a competitive business environment.

"We also need to improve on the current shortcomings we have in several areas such as putting up a supporters' data bank. This will put us in a better position with sponsors, as we will be have leverage when negotiating for sponsorships, while it we are also looking at creating new benefits for the supporters.

The question of financial reports according to him will also be crucial in future and the board will set standards on how to present it to its members and other stakeholders.

Martin also announced that he will make a yearly investment in the club, starting with a N$1 million he gave for the rest of the season yesterday.

He said the investment will be adjusted each year according to inflation, while he also said the club will look at various ways to market itself commercially and promote its image.

"Identity is very important and we have now officially opened an office for the club (Tal Terrace Building, Unit 4, Wecke Street, opposite the parking exit of Wernhil Park) where supporters can engage and meaningfully contribute to the development of it," he said.

He also added that a manager will be appointed who will in turn compile an organogram for various positions that will be needed in future to have Stars run smoothly as a business entity. Kauta however added that whoever wants to become a member of the club should register from scratch.

"We don't have any data bank of legitimate card-carrying African Stars supporters or members at the moment and with the new dispensation, I urge everyone who want to be party to this club to register from scratch," he said.

Apart from that, Martin explained that the directors who will serve on the board will be picked based on their passion for the game, time for the club's business and whether they can add value to the team on required levels.

Kauta also announced that three members will assist Martin with putting up the needed systems in place before a full-fledged board of directors is appointed.

They are Irvin Ndjavera, Brian Makari and Mary Mberirua, who together with Kauta were instrumental in the commercialisation process of the team.

corry@namibian.com.na