Dubai based millionaire buys Kenyan premier league club

Image result for badoer investmentsWazito FC is now owned by Badoer Investments Ltd, the global investment conglomerate run by Ricardo, a flamboyant football fanatic who became its president in October 2018.

Mr Ricardo says his role in the club will be majorly to steer the team and build Africa’s most successful club. “The club is said  have already invested in good players and certain to win the NSL in 2019 so as to vie for CAF Champions League,”

His entry into Kenyan football comes as the investor spreads his business interests into the East Africa region. In Kenya, he has already acquired interests in Sumac Microfinance and Business Today website.

Ricardo says he is “going to invest a lot of money” in Wazito FC to build a formidable team. And he has big plans for Kenyan football, which include establishing a youth football academy to offer European standards training for children from age of 6 as well as a UEFA category 4 stadium.

Ricardo loves football so much that he owns a fifth division team in Spain, C.D. Ursaria, which is expected to anchor African European co-operation which will involve exchange of staff, knowledge and players between the clubs.

He noted though that the current legal framework in Kenya is not attractive to investors. “Lack of good structure makes it hard for investors. For example, according to the Sports Act the teams cannot be limited companies and this makes things a bit complicated when it comes to attracting new investors,” he said.

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He said he would start a push for the law to be changed so clubs can be run like commercial entities as it is done in leading leagues like the EPL and La Liga.

Ricardo, who was in Kenya to check on his businesses, says he had constructive talks with Gatundu South MP Moses Kuria, himself a football lover, and Deputy President William Ruto over the matter. “Mr Kuria is, as many Kenyans might know, is crazy about football and passionate about youth. So he could help out to pushing for change in sports legislation,” says Ricardo.

Wazito FC was formed in 2011 by, among others, Solomon Alubala, who dreamt of playing professional football and owning a football club. Alubala teamed up with University of Nairobi alumni to provide football mentorship to university students and graduates.Image result for badoer investments

In 2012, the club joined the fifth tier of Kenyan football ladder, the Nairobi County League and won it. It got promoted to the fourth tier the following year which it won to enter the third tier, where it finished second in 2014. It played in the second tier for three years before being promoted to KPL in 2018.

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