Kaizer Chiefs chairman Kaizer Motaung was attacked while driving his car to Chiefs Village in Naturena on Wednesday.
According to the Sunday World an angry man, who was demanding R1-million from the club, threw a brick at Motaung.
Motaung's luxury car was extensively damaged, but club boss survived the attack unscathed.
Gauteng police spokesman Kay Makhubela confirmed that Sizwe Blessing Mbotho was arrested.
"He appeared in the Johannesburg Magistrate's Court and was remanded in custody. He will appear in the same court for bail application on Tuesday," Makhubela said.
A source who spoke to the publication stated that Mbotho banged Motaung's car with a brick after the retired footballer allegedly ignored his repeated requests to meet him about an amount of R1-million he claims he won in a soccer competition ran by one of SA's giant cellphone companies.
It is not yet clear which competition he was referring to.
"This man has been camping on the road next to the entrance of the village holding a placard. While there, he wrote several letters to Chiefs staff demanding to have a meeting with Motaung about the money.
"They ignored his letters because they thought he was mentally ill. But what surprised us was the rich and intellectual English that he used in his letters," said the source.
The source said they were shocked when the man attacked Motaung with a brick on Wednesday. Suspecting that he was being hijacked, Motaung sped off to the village entrance and ordered the security guards to rush to the scene to investigate the matter.
When the security guards arrived at the scene, they allegedly found Mbotho armed with another brick, hopping mad.
The guards disarmed him and detained him at the Chiefs Village. He told the guards that he wanted Motaung's audience about the R1-million he was told to collect from the club, which he claims he won from a cellphone company. They then phoned the police who arrived and arrested him.
"The chairman was very angry with this man because he damaged his car. But despite what he did the chairman decided to give him a hearing. I think he will give him a hearing when he is released from jail," said the source.
Attempts to solicit comment from Motaung drew a blank as his cellphone rang unanswered.