The Nelspruit Magistrate’s Court on Thursday released Kaizer Chiefs manager Bobby Motaung on R50,000 baill, Eye Witness News reports.
He is one of three people arrested in connection with multi-million rand fraud involving the construction of the Mbombela Stadium.
Motaung and co-accused Herbert Theledi appeared in court together, while Chris Grib was reportedly arrested in Cape Town.
In court on Thursday, Motaung revealed his assets were worth R12 million and his car was worth a further R4 million.
It also emerged that the manager earned around R100,000 a month.
State prosecutors did not oppose bail and he was not asked to report to a police station or hand in his passport.
Outside court, a group of protesters waited for the case to finish, waving posters and singing.
The arrests follow alleged tender irregularities in the construction of the R1 billion stadium. It was built for the 2010 Fifa World Cup.
Mbombela Municipality speaker Jimmy Mohlala was shot dead after he alerted officials to the corrupt tender.