South African media and enterrtainment group, Primedia, and colossal local football Club, Kaizer Chiefs, have announced that the 40% equity stake which Primedia has held in the Club for a number of years, has been sold back to Mr. Kaizer Motaung for an undisclosed sum. Mr. Motaung started the Kaizer Chiefs Football Club in 1970.

Kuben Pillay, Group CEO of Primedia, said that ‘Primedia has had a sound relationship with the Club for many years, but we have reached the stage, consistent with several non-core disposals over the last year, of focussing on our core competencies and areas of expertise. In line with such core competence, Primedia will continue to offer to serve Kaizer Chiefs in its commercial ventures’.

Mr Motaung, the Executive Chairman of Kaizer Chiefs, said that `Primedia has been a good partner to Kaizer Chiefs and we have enjoyed a very good relationship with them. We wish to thank Primedia for the manner in which they have always engaged with us. Further, we are pleased to confirm that our collaborations will continue in a number of areas where our respective businesses share common and mutual interests.’

This brings about a new era at Kaizer Chiefs.