Africa-Press – Rwanda. Businessman Sadate Munyakazi has confirmed that a bid worth Rwf 5 billion is in place to buy Rayon Sports. The bid will be valid until December 25, he said.
There have been reports that Rayon Sports Association is considering putting club shares on the market at Rwf6 billion (Rwf 30,000 per share), but Munyakazi, who served as club president between July 2019 and September 2020, wants to acquire 100% stake of the club.
“I don’t want shares. I just want to buy it 100 per cent,” he told Times Sport on Thursday.
“I want to own it. I don’t think it’s a good idea to get many people involved in an investment like this.”
Munyakazi said he has been working on the bid since December and he believes Rayon Sports is a big brand worth investing in as it shows potential to make big returns.
“Rayon Sports is a brand that can generate a lot of money and I don’t think people get the most out of it accordingly. I have tabled my bid, if they are open for discussions, we shall be ready to negotiate,” he said.
“I am saying this as a businessman. I don’t want to put emotions in business,” he added.
Munyakazi will, however, go ahead with the bid on condition that he is independent to appoint the club management. Rayon’s executive committee is normally elected by members of Rayon Sports Association.
He also wants Rwf1 billion of the bid to be distributed among the fan clubs. The club must also agree to use Rwf 1 billion to get rid of its debt burden while Rwf 3 billion (Rwf 1 billion per season) will be invested in the club.
Munyakazi projects that Rayon will be valued at Rwf 10 billion in the next three years after which he plans to invest Rwf 5 billion in the franchise which will see the volleyball, basketball and Cycling teams established.
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