AFC Ajax NV has reached an agreement for the sale of 51% of its shares in Ajax Cape Town to the minority shareholders. The transaction is set to be completed on or before October 1.
After the strategic reorientation, which was reported in February 2020 during the presentation of the half-year figures, Ajax concluded that the ambitions and results in Amsterdam are in too great a contrast to the development of the football market in South Africa. Ajax has expressed the ambition to reach the top of European football and in recent years the South African football market has not produced enough talent at the level that Ajax strives for. Moreover, Ajax does not see sufficient potential for the future. The club has shifted its focus to other markets. Ajax Amsterdam has been a 51% shareholder of Ajax Cape Town since 1999.