The club has been formed by merging Seven Stars and Cape Town Spurs. Previous Seven Stars owner Rob Moore and John Comitis, who owned Cape Town Spurs, will be the owners of the remaining 49 percent of Ajax Cape Town.
This season, Seven Stars and Cape Town Spurs will continue separately, despite their forthcoming merger.
Ajax said it was the first professional sports club worldwide to work with a franchise construction. It said its investments would mainly serve to strengthen the new South African club's youth department. This would be a key for success in future for both Ajax Amsterdam and Ajax Cape Town, it said.
The Dutch club will invest more than $1.2 million in upgrading Cape Town Spurs' present training facilities. The new club will adopt the Dutch team's training theories and methods.
Ajax Cape Town will play the 1999-2000 season in the Norwich Park stadium in Newland. At a later date, it will announce another home venue in the Cape Town area.
Reuters
