Ajax breaks with Ajax Cape Town
According to the Amsterdam-based club, the ambitions and results in Amsterdam were in too great a contrast to the development of the football market in South Africa.
JOHANNESBURG - AFC Ajax NV on Monday confirmed that they had 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 1 October.
According to the Amsterdam-based club, 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 were 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 says in recent years, the South African football market had not produced enough talent at the level that Ajax strived for.
In addition, Ajax did 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.