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Johannesburg, 24 May 2007: The acquisition of a 51% controlling interest in Premier Soccer League (PSL) club H.P. Silver Stars by Royal Bafokeng Sports Holdings (RBSH), announced today, is set to revolutionise the Beautiful Game in South Africa’s North West Province.
RBSH is an operating subsidiary of Royal Bafokeng Holdings (RBH), investment vehicle of the Royal Bafokeng Nation (RBN).
RBSH Managing Director George Khunou said: “We are very pleased to have acquired this stake in a club of Silver Stars’ calibre; we envisage it becoming an important role-player in meeting the recreational objectives of the RBN’s ambitious Masterplan for socio-economic development and, more specifically, a primary vehicle in fulfilling RBSH’s vision for a vibrant, healthy and patriotic community, transformed through sport.”
Silver Stars CEO Larry Bookstone said: “While undoubtedly RBSH’s ownership stake and financial backing gives the club vital ‘muscle’ to help take it to the top of the Premier League, it is enormously exciting for all of us – owners, management and players – to be able to identify with and be part of the RBN’s admirable drive to provide sporting and other developmental opportunities for people in the North West Province.”
Silver Stars, inaugural winners of the high-stakes Telkom Cup in the 2006-07 season, finished second in the Professional Soccer League (PSL) Premier League log table for 2006-07, after beating Kaizer Chiefs 2-1 on Sunday, thus qualifying for both the SAA Supa 8 Cup and CAF Cup competitions in the new season. The club has steadily improved its ranking each season since winning the Inland First division and being promoted to the Premier League in 2003-04.
In terms of the agreement announced today – and subject to PSL approval – the club’s name will be changed to Platinum Stars, reflecting the historic association of both the North West Province and the RBN with platinum mining in South Africa. RBSH will appoint three directors to the club’s board, one of whom will be Chairman.
Joe Mapfulagasha and Brookstone, who co-founded Silver Stars in 2000, each retain a 24.5% shareholding in the club.
The transaction announced today overtakes a five-year sponsorship agreement between the RBN and Silver Stars announced in January last year, when the Royal Bafokeng Sports Palace at Phokeng in the North West Province became Silver Stars’ ‘home’ ground.
Going forward, Khunou said RBSH envisaged a ‘three-tiered, developmental pyramid’ for soccer in the region.
“At the base of the pyramid is the development of soccer amongst children in the region from the age of six; in the middle is the further development of the sport amongst older players, including schools’ ‘elite’ players; and at the top there is Platinum Stars and the Royal Bafokeng Sports Palace to provide a national, and indeed, international focus for the sport. At each level of the pyramid we will work with major stakeholders in the region, including government, the South African Football Association (SAFA), mining companies and local communities.”
In terms of soccer development amongst the youth, he said, RBSH had recently started a mass development programme in schools and villages in the Rustenburg Valley, working with a global leader in the field, Samba Soccer. Other planned initiatives included:
For further information, please visit the following websites:
Royal Bafokeng Nation - www.bafokeng.com/
Royal Bafokeng Holdings - www.bafokengholdings.com
H.P. Silver Stars FC - www.silverstars.co.za
Maggie Sekoto
Forever Marketing
+27 11 616-6097
+27 82 902-3780
Zenzele Bam
Russell & Associates
+27 11 880-3924
+27 82 428-1690
