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King, Player settle R33m loan dispute

Sep 05 2013 16:01
Carin Smith

Dave King caddies for Gary Player during the second round of the 2009 Masters Tournament in Augusta, Georgia. (David Cannon, AFP)

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Cape Town - Tax rebel Dave King and golf icon Gary Player have come to an amicable settlement in their dispute about a loan.

"I can confirm that the parties have reached an amicable settlement of all their disputes," Player's lawyer Rael Gootkin told Fin24 on Thursday.

The settlement is, however, conditional upon a number of suspensive conditions being fulfilled.

King recently settled on a payment of R706.7m to the South African Revenue Service (Sars).

This settlement was achieved following submissions made to Sars by King and entities associated with him.

The Scottish-born claimed R33m from Player in the Grahamstown High Court in June, claiming it related to a loan of R6.1m made to Player in July 1999, plus interest.

Player claimed that King had given him the money to pay off a R6m debt he (Player) owed to a sports management company.

In return, King could then travel with Player to major international sports events, which he did.

- Fin24

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dave king  |  gary player  |  tax  |  loans



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