Twine Phiri sells CAPS United share,walks away from administration

Twine Phiri sells CAPS United share,walks away from administration

Twine Phiri had decided to sell the remaining stake at CAPS United and walk away from football administration completely.

Phiri who recently announced that he had accepted his fate regarding the PSL chairmanship after being booted out by the ZIFA constitution,which revoked his mandate says he felt it’s time to leave football administration.

Phiri had ceded majority shareholding to Farai Jere after financial challenges had hit the club in 2015 . However he has now decided to dispose his remaining 20% stake.

Phiri told the Herald, “I had a meeting with my partner, Mr Jere on Monday where I advised him that I would not be involved in the race for the PSL chairmanship and I also told him I felt I should take a break from football administration for now that is why I have decided to dispose the 20% stake I have in CAPS United.

Phiri walks away after a number of significant achievements and impact on the local football scene .Under his reign the league saw the return of Castle Lager to sponsor the Premier Soccer League, while he played a key role in the Supersport deal that saw the satellite channel secure TV rights of the ZPSL.Other partners that came on board included Netone as well as Mbada Diamonds who have both sponsored cup competitions.

Phiri selling is stake means Farai Jere’s stake at the club now stands at 80% with Nhamo Tutisani having a 20% shareholding.



Categories: Local