Farai Jere back at CAPS United

HARARE - CAPS United co-owner Farai Jere has patched up his differences with majority share-holder Twine Phiri, paving the way for his return to the Green Machine board.

The wealthy Harare businessman quit the club at the end of 2012 to take a back seat from the day-to-day running of the club despite owning 25 percent of the CAPS United holding company.

In that period, Jere, who has made his fortune in the shipping and clearing business, had withdrawn his financial support to the club as tension between him and Phiri reached fever pitch.

In a press statement last night, the club said: “Farai Jere who has not played an active role in CAPS United for a year, has with effect from the 13 April 2014, rejoined the CAPS United Board.

“Mr Jere rejoins the Board as a non-executive director. Farai Jere, for the avoidance of doubt, has never ceased to be the beneficial owner of 25 percent in CAPS United’s holding company.”

The club will inform the public in due course the other modalities of Jere’s return, the statement further said.

“The Board is acutely aware of the need to timeously and adequately inform the broader CAPS United family and the public of developments at CAPS United,” it read.

“A full disclosure of the turnaround strategy, business plan, three year plan, management and control as well as the funding requirements and strategy will be made in short course only to the extent that it is consistent with the basic tenets of corporate governance.”

During Jere’s sabbatical, the club had experienced an acute cash flow challenge as Phiri struggled to get financial backing.

Things took a turn for the worst when players went on strike shortly before the start of the 2013 season over unpaid bonuses and salaries.

The club reacted by sacking seven senior players including captain Tapuwa Kumbuyani, who was later pardoned after he offered an apology.

It was never smooth sailing for the four-time Zimbabwe champions last season as another player strike occurred in September.

This time around it was an embarrassing episode for Phiri as a number of senior players waylaid Jere at his offices to beg him to come back at CAPS.

The move backfired as Jere refused to entertain the players and left the club at the brink with Phiri threatening to wield the axe.

In the end, sanity prevailed at the club and coach Taurai Mangwiro was able to lead the club to a fifth place finish on the log.

At one time the club was within six points of eventual champions Dynamos before their season was interrupted by the industrial action which saw them lose ground.

With Jere back on the CAPS board, stability is likely to be guaranteed at the Green Machine, who are currently in third place on the log after two games.

Makepekepe began the season with a 1-1 draw with newly promoted ZPC Kariba before defeating Harare City 2-1 at the weekend.

Comments (2)

Welcome home Jere. Go Caps United Go.

mhofu mutenhesanwa - 16 April 2014

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