Young African sold, bills paid … Ngarizemo explains exit
Young African FC owner Marley Ngarizemo has defended the decision to sell the club’s Premier League status to Tigers FC, saying mounting financial pressures and the lack of a sustainable sponsor left him with little choice but to step away from Namibia’s top-flight football. Ngarizemo said he made the decision not because he had lost... The post Young African sold, bills paid … Ngarizemo explains exit appeared first on New Era .
Young African FC owner Marley Ngarizemo has defended the decision to sell the club’s Premier League status to Tigers FC, saying mounting financial pressures and the lack of a sustainable sponsor left him with little choice but to step away from Namibia’s top-flight football.
Ngarizemo said he made the decision not because he had lost interest in the club, but because he could no longer afford the rapidly increasing costs of running a Premier League side.
He said continuing at the highest level would have exposed him to financial risks he was no longer prepared to take, particularly with the club’s salary bills.
“I can’t lose what belongs to me. I have done my part at that level. I need to sort out things which I have lost through football. Football is not changing. Had I continued, I would have been sitting with a salary bill which I couldn’t pay.
“Every year we increase salaries. Where would I get that money? I couldn’t afford it. We were struggling in some instances. A good dancer knows when to leave the stage, and that’s exactly what I did,” he said.
Young Africans has since sold its Premier League status to Tigers for an undisclosed amount, with the deal concluded in April.
Ngarizemo said a portion of the money received from the transaction was immediately used to settle outstanding financial obligations.
“I didn’t want to stay on and lose what I have built. Let me start at the lower level and give space to others. It’s not easy. People will say things, but those are their opinions. That’s the decision I made, and it’s the right decision. Even big clubs with money struggle. You must be smart enough to jump ship,” he added.
‘NFA grants are not enough’
Ngarizemo also pointed to the broader financial challenges confronting clubs in the Premier League, arguing that NFA grants and match-day revenue are insufficient to sustain a competitive top-flight outfit without a major sponsor.
He said playing home matches was particularly challenging because the club could not generate enough gate revenue to cover its expenses.
“Hosting games wasn’t conducive. We will play in the lower league and see if we can get investment. For a club to come back to the Premier League is easy if you work hard,” he said.
Ngarizemo added that it makes no sense to run a struggling club and struggle to even honour league matches.
“In the absence of a sponsor, the grants from the NFA are not enough to run or sustain a club. You play home games, and you don’t even generate N$2 000,” Ngarizemo said.
The businessman said the lack of investment and sponsorship ultimately made it impossible for him to continue financing the club at Premier League level.
Dispute with NCS
Ngarizemo also revealed that Young African is involved in a separate legal dispute with Namibia Correctional Service FC over a failed proposed sale of the club, reportedly valued at N$1.3 million.
According to Ngarizemo, NCS failed to honour the agreed payment terms, prompting the dispute to go to court.
“NCS went to court over a deal that they failed to honour. We stand a better chance. They didn’t pay the full amount on a certain date,” he said.
He claimed NCS had paid a N$400 000 deposit, which was subsequently forfeited after the agreed transaction was not completed.
“They lost the deposit because they failed to pay the rest of the money on a specified date. They were supposed to give us N$1.3 million. It’s an ongoing case on the side, but it doesn’t affect our team in any way,” he said.
Tigers retain top-flight place
Following the transaction, Tigers FC will remain in the Premier League for the upcoming season, while Young African will drop to the Southern Stream First Division.
The Shandumbala-based Tigers have also appointed former Khomas Nampol coach Fortune Eichab as their head coach on a two-year contract.
The acquisition has, however, reignited debate about clubs acquiring the statuses of other teams, particularly when relegated sides are involved.
Kambaekwa questions status trading
Seasoned former journalist Carlos Kambaekwa said he was uncomfortable with the growing trend of relegated teams effectively returning to the top flight through the acquisition of another club’s status.
While acknowledging that clubs buying the statuses of other teams is not necessarily the issue, Kambaekwa questioned the ethics of a relegated club using such transactions to immediately regain its position in the same competition.
“I am not comfortable with this trend of relegated teams buying their way back into the fold through the back door on the bounce. It is morally wrong and unacceptable, unethical practice,” Kambaekwa said.
He argued that allowing a relegated team to return to the Premier League through a status transaction could undermine the purpose of promotion and relegation.
“Don’t mind teams buying the status of other teams, bouncing back under new names, but the same identity that was relegated makes a mockery of the entire exercise.
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