AFC Leopards Set for Transformation with Proposed Mixed Ownership Model

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AFC Leopards, one of Kenya’s most historic football clubs, is on the verge of a significant transformation as it moves towards becoming a corporate entity. A Task Force appointed by the club’s National Executive Committee (NEC) has submitted a detailed report recommending a shift from a fully community-owned structure to a Mixed Ownership Model. The proposal is set to be discussed and voted on during the club’s Annual General Meeting (AGM) scheduled for March 30, 2025.

Proposed Ownership and Governance Structure

The Mixed Ownership Model follows the internationally recognized 50+1 rule, ensuring that club members and fans retain the majority (51%) ownership through a SACCO (Savings and Credit Cooperative Organization). Meanwhile, strategic investors would be allowed to acquire up to 49% of shares, injecting much-needed capital while preventing external parties from gaining full control of the club.

“This model upholds democracy within clubs, allowing members to vote for the composition of their club board and enabling the replacement of those mismanaging the team,” said the Task Force Secretary General, Richard Ekhalie while summarizing the over 30 pages report.

To facilitate this shift, the Task Force has recommended the establishment of three key entities:

A Holding Liability Company – Overseeing club operations.
A SACCO – Allowing members to invest, access loans, and receive dividends.
An Investment Vehicle – Facilitating funding from private investors.

Governance will be structured to reflect this ownership split, with the Board of Directors consisting of five representatives from the SACCO and four from strategic investors.

Strategic Benefits of the Model

According to the report, the club is currently valued at approximately Ksh 2 billion, factoring in sporting performance, fan loyalty, commercial potential, and historical significance. This transformation is expected to create financial stability by attracting private investments, which will be used to develop infrastructure, improve player welfare, and enhance the club’s competitiveness in domestic and continental football.

Additionally, transitioning to a corporate entity will allow AFC Leopards to expand revenue streams through sponsorships, merchandising, matchday income, and commercialization initiatives. However, the Task Force also highlighted potential challenges, including hooliganism and gaps in Kenya’s Sports Act, which could deter corporate investment.

Transition and Implementation Plan

To oversee this structural shift, a Transition Committee—termed the Corporate Committee—will be formed. Comprising seven members (four from the Task Force and three nominated by NEC), this team will be responsible for incorporating the new legal entities and setting up commercialization frameworks. The committee’s tenure will initially last one year, with an optional six-month extension if necessary.

Next Steps and Possible Challenges

With the AGM fast approaching, members will have the final say on whether to adopt this historic transformation or maintain the current community ownership model. The leadership of AFC Leopards, led by Chairman Dan Shikanda, strongly supports the transition, arguing that the existing structure has limited the club’s growth and financial potential.

Interestingly, while this major decision is on the AGM agenda, club elections have been left out, despite the current office’s term expiring in May 2025. This omission has raised questions among stakeholders.

AFC Leopards now stands at a crossroads—whether to embrace a modern football governance structure that could bring financial stability or to cling to its traditional roots. The March 30 AGM will determine the club’s future direction.

AFC Leopards Set for Transformation with Proposed Mixed Ownership Model