Moroka Swallows shares on sale for supporters

The shares are selling for as little as R350.

Gauteng MEC for Education Panyaza Lesufi is part of the course to revive the club and save it through the online model which is set to make Swallows the first club to be owned by supporters.

Lesufi said they would like to raise about R200 million to buy a National First Division or Absa Premiership status ahead of next season.

“The financial support out of this funding model will determine which direction we are going to take‚” Lesufi said.

“The ABC Motsepe League or where we are now in the fourth division are not options because those leagues are very difficult and I am sure you have read in the newspapers what goes on in those leagues.

“The NFD and the PSL are options that we will be interested in at the moment. We have two teams that have offered us (the sale of their franchises) but we have burned our fingers before and this time we want to have the financial muscle first.”

“We are taking the brand back into the hands of the people. We have been inundated by supporters of football who are worried and disappointed and have asked us to do something to rescue the team‚” concluded Lesufi.