Bobby Motaung Faces Renewed Legal Threat Over Kaizer Chiefs Shares

• A Johannesburg-based company, Pent Up Investment, has approached the High Court to have Kaizer Chiefs team manager Bobby Motaung’s estate sequestrated
• Despite numerous failed payments and court orders over the past 14 years, Pent Up Investment alleges that Motaung continues to live an opulent lifestyle
• Motaung claims the matter was resolved years ago; however, Sunday World reports that Pent Up Investment is once again pursuing legal action

Kaizer Chiefs team manager Bobby Motaung is once again embroiled in legal trouble, with a Johannesburg-based property company reportedly heading to the High Court to attach his shares in the club and pursue a sequestration order against his estate.

According to Sunday World, Pent Up Investment CC is seeking to recover more than R4.5 million from Motaung, claiming he has defaulted on a longstanding debt linked to a failed property transaction dating back to 2009.

Dispute over Mondeor property deal resurfaces

The conflict stems from a sale agreement Motaung entered into with Pent Up Investment to purchase a commercial complex in Mondeor, Johannesburg, for R9 million. The property includes a petrol station and is located near Gold Reef City.

Court papers reveal that Motaung, via his company Lakeshore Trading 224, failed to honour the full payment. Despite a court ruling in favour of the creditor in November 2009 and several settlement discussions over the years, the debt remains partially unpaid.

Pent Up Investment director Costas Couremetis alleges that only R6 million has been repaid to date, leaving a shortfall of more than R4.3 million as of January 2024. He contends that Motaung’s lavish lifestyle contradicts his claims of financial strain.

Luxury lifestyle questioned amid unpaid debt

Couremetis states in the affidavit that Motaung continues to lead an “opulent” life, driving a Bentley and residing in an upscale Houghton property, while wearing luxury watches and designer clothing. This, Couremetis argues, reflects poor financial prioritisation rather than insolvency.

He further alleges that Motaung has been “playing creditors off against each other” for over a decade to delay repayments. The property firm believes a trustee should be appointed to investigate and liquidate Motaung’s assets, including his shares in Kaizer Holdings, which owns the Soweto-based football giant.

Motaung responds, calls matter ‘old news’

The matter was reportedly scheduled to appear in court this week. However, Motaung dismissed the claims, telling Sunday World the issue was resolved “long ago.” Couremetis, when approached for further comment, declined and referred queries to his lawyer, who was unavailable at the time of publication.

This is not the first financial controversy surrounding Motaung, who was previously hit with tax claims from SARS totalling R90 million.

Motaung son of Chiefs founder lives a glamorous lifestyle

Bobby Motaung, son of Kaizer Chiefs founder Kaizer Motaung, is a prominent figure in South African football. He resides in Houghton Estate, one of Johannesburg’s most prestigious suburbs. The area is known for its luxury homes and high-profile residents.

3 Amajita stars Kaizer Chiefs should consider signing

Briefly News earlier reported that Kaizer Chiefs were told to keep a close eye on three Amajita stars who impressed at the CAF U-20 Africa Cup of Nations and stood out among their peers.

A sports journalist highlighted their outstanding performances during the tournament, suggesting they have the talent and potential to strengthen the Amakhosi squad as the club looks to build for the future.

Source: Briefly News