Royal AM Sale Details Disclosed: Key Information on Bidding Process and Court Filing Unveiled

• Bidders must submit a refundable deposit of R1 million and indicate their intention to bid by 14 March
• The court filing includes the redaction of names of 22 respondents, including the Mkhize family
• Mr. Jacob Venter has been appointed as the curator bonis to preserve the assets, including overseeing the transfer of shares

A public notice circulating on social media has provided significant updates regarding the sale of Royal AM, detailing the bidding process, court filing, and key parties involved.

Bidding Process and Requirements

Interested bidders will need to submit a refundable deposit of R1 million and confirm their intention to bid by 14 March.

The successful bidder will be notified by 17 March, marking the completion of the initial phase of the sale.

Court Filing and Respondents

The document begins with the redaction of the names of 22 respondents, including the Mkhize family and others.

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This is because the assets tied to the sale are held in a family trust, and those connected to the trust have been named as respondents in the case.

These assets will be part of the broader sale process, which will involve a detailed legal procedure to ensure a fair and transparent transaction.

Appointment of Curator Bonis

The court filing also discloses that Mr. Jacob Venter has been appointed as the curator bonis.

He is tasked with ensuring that all necessary measures are taken to preserve the assets during the sale process.

This includes overseeing the transfer of shares, an essential step in facilitating the transaction and ensuring that the sale proceeds smoothly.

Sale of Assets and Notification to Respondents

In relation to the sale of assets, the curator is required to notify the 22 respondents involved.

The curator has the authority to auction assets belonging to these respondents until all taxes owed by them are fully settled.

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Netizens React to Royal AM Sale:

Here's What They Had to Say on X Kamo Buccaneer:

History of Celtics was destroyed for nothing💔 Why didn’t she buy Sundowns as they are smaller with no culture and tradition?

Moroka Mokwena:

She should have bought a mafioso team called Pirates, a team owned by South Africa’s own El Chapo Guzman, where players are paid by Adidas merchandise.

Minister of Electricity:

Let me check my 2 pot and see if I can’t put a deposit 🔥🔥🔥."

Sibonelo Mvelase:

If they had proper football knowledge, they would have waited until the season ended. At least the bidder would know what they’re buying."

Khutso:

No one will buy this club unless you have another 5 million for its debts."

The Tsongalist:

So what happens if no one buys?

David Mogashoa (Former Moroka Swallows boss, now Marumo Gallants):

I hope the bidders are smart enough to know that they will still be liable for Norkovic and any other football claim that comes after.

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Muzi Hlabangane:

Mr. Robert Gumede, please do the honors... 🙏🏿🙏🏿

It’s clear that the sale of Royal AM has ignited a lot of debate, with many questioning the future of the club and its financial stability.

Royal AM Faces Unpaid Salaries and Uncertain Future

Briefly News previously reported that Royal AM Football Club is struggling with severe financial issues, including failing to pay players for February 2025, despite clearing previous outstanding payments.

The players have not been officially informed about the potential sale of the club, learning about it only through media reports.

Source: Briefly News