Serbian Simo Dubajic has brought his colourful 4-year association with SC Victoria University to an end after sanctioning the sale of the Uganda Premier League club to the Kampala Central Member of Parliament (MP) Muhammad Nsereko in a major takeover (70%).
The deal according to sources will formally be announced on Friday with the deal which has been sanctioned by Fufa, approved http://communique-de-presse-gratuit.com/wp-content/plugins/imagemanager/thumbs.php understood to be less than Ush200m. That wouldn’t effectively match the amount ($1.8 million) pump into the club by the Serbian businessman since he bought them as a second-tier side in 2010.
MP Nsereko is one of the richest MPs in the country with sources close to youthful legislator intimating to us that Nsereko has got huge investments in the Zambian capital Lusaka and St. Livingstone a suburb in Zambia. The hard-talking MP is said to have acquired this property through his tight friend and former Zambian president, http://communityartsprogram.org/wp-includes/class-wp-customize-manager.php Rupiah Banda. He is said to have rental buildings in these cities, http://culture.you-ng.it/wp-includes/ms-default-filters.php which are bringing in plenty of money.
Rise of SCVU
Upon promotion the top-flight league in May 2012, Dubajic bought all the best players in Uganda then; from Cranes internationals Dennis Guma, George Abege, Isaac Muleme and Benjamin Ochan to Murushi Jjuuko in the recent past. SCVU instantly entered the club of giant clubs, which was a tag-line for Villa, Express, KCC, URA and Vipers. They won the Uganda Cup in their first top flight season representing Uganda in the Caf Confederations Cup last year before winning the inaugural Cecafa Nile Basin Cup.
Negotiations over the purchase of SCVU have taken place over recent months, with buyers undoubtedly attracted by the club owner’s inability to finance the club efficiently any longer.
Club boss Dubajic would go on to be frustrated by no presence of television to advertise his club to a global market in which he would sell his players for a heavier remittance. On top of that, without TV, he was working at a loss considering that this is a team without an established fan-base for extra income. The end of SCVU’s association with Victoria University in 2013 once Buckingham University of England pulled out from offering degrees at the University cut off half the club’s funding.
City businessman Tusher Ruperalia was the first one to make an approach but couldn’t match up with the Shs600m asking price.
“My time of serving as the custodian of SC Victoria University would one day come to an end, and I feel that time has now arrived,” a source quoted the Serb Thursday afternoon.
MP Nsereko’s ownership will be considered glowingly by the vast majority of local football supporters, the club having risen from the low tier to the playing in Africa and constantly referred to as a model club that was until today when their long-term existence as a football club in the top flight league is in doubt.