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Indonesian President’s son acquires 40% stake in soccer team

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March 22 (UPI) – The youngest son of Indonesian President Joko Widodo acquired a 40% stake in a local soccer team after his brother was elected mayor of the team’s hometown, Solo.

Kaesang Pangarep now owns part of PT Persis Solo Saestu with company commissioner Kevin Nugroho, who has a 30% stake. Indonesia’s state enterprise minister Erick Thohir bought an additional 20% of the company, according to Detik News.

Nugroho is a young entrepreneur based in Solo, and Thohir is a former shareholder of Football Club Internazionale Milano, or Inter Milan.

Widodo’s eldest son Gibran Rakabuming Raka, 33, was elected mayor of Solo, a city in central Java, in December. The city is also the birthplace of the president and a stronghold of Widodo. Widodo was re-elected president in 2019.

Gibran has said he expects Thohir to bring “professional and transparent management” to the football team, Bloomberg reported on Monday.

Thohir had said he and Indonesian businessman Anindya Bakrie were working on another deal that could result in a 51% stake in British football club Oxford United. The stake would be vested in Thai businessman Sumrith Thanakarnjanasuth.

Before Gibran was appointed to his father’s wrestling Indonesian Democratic Party, PDI-P, the president’s eldest son operated a restaurant business.

Kaesang, 26, is an entrepreneur and blogger with 2.2 million Twitter followers. The president’s youngest son was reportedly told at a general meeting that he was looking to improve Persis’ reputation.

There is also talk of taking the club in public.

“The IPO is an option and could be done at the appropriate time,” Nugroho said in a text message.

In 2019, Widodo won 21 of 34 provinces with 55.5% or 85.6 million votes. In January, amid the coronavirus pandemic, Widodo encouraged Indonesians to take the Sinovac vaccine by receiving the injection in public.

Indonesia was the first country outside of China to approve the Sinovac vaccine.



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