Russian Businessman Among Bidders for Royal AM Takeover
- Royal AMs takeover bid intensifies with multiple investors, including a Russian businessman
- Financial struggles and PSL sanctions – Ongoing tax issues and unpaid salaries have led to asset seizures
- The Premier League Soccer is considering promoting two teams next season instead of relegating any
A Russian businessman is reportedly part of a group of investors seeking to purchase Royal AM's Premier Soccer League (PSL) status.
Should the bid succeed, the consortium plans to bring back Bloemfontein Celtic to its home city, Bloemfontein.
Source: Facebook
Bid Deadline and Deposit Requirements
The deadline for bid submissions closed on Friday at 13:00, with each interested party required to provide a R1 million deposit.
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The Russian bidder's plans
Sources have confirmed that the Russian investor is particularly interested in reviving Bloemfontein Celtic, an ambition previously supported by South Africa’s Sports Minister, Gayton McKenzie.
Other contenders for ownership
Apart from the Russian businessman, a consortium from the North West has offered R21 million for the club’s PSL status.
Businessman David Skhosana, alongside his partner, is also bidding, as is former Bidvest Wits General Manager George Mogotsi.
PSL’s Possible Relegation Decision Change
Given the ongoing uncertainty, the PSL is contemplating adjustments to its relegation rules for this season.
The league is considering promoting two teams for the upcoming season instead of relegating any, pending approval from the PSL's executive committee.
Royal AM’s Financial Crisis and Liquidation Threat
Royal AM has been grappling with financial difficulties, with liquidation or sale being considered last month.
The appointed curator advised either option, and ultimately, the decision was made to proceed with a sale, despite club president Shauwn Mkhize's attempts to retain ownership.
Source: Instagram
Tax Issues and Financial Struggles
Royal AM’s financial troubles are rooted in a tax debt of nearly R40 million, which led to asset seizures by SARS and delays in paying players’ salaries.
These issues have contributed to the club's instability.
Suspended Matches and PSL Sanctions
The PSL has suspended Royal AM’s remaining 19 Betway Premiership matches.
Furthermore, the club was excluded from the Nedbank Cup’s round of 32, reflecting the league's frustration with the club's ongoing problems.
The Club’s Current Position
Royal AM, currently at the bottom of the PSL standings with only eight points from 11 matches, has not played since December 2024.
As the sale process continues, the future of the club remains in flux.
Bloemfontein Celtic Set for PSL Return
Briefly News previously reported that Bloemfontein Celtic, also known as Siwelele, is set to make a return to South Africa’s top-flight football. Minister of Sport, Arts, and Culture Gayton McKenzie confirmed the club’s comeback, following the upcoming auction of Royal AM.
Several buyers are interested in acquiring Royal AM, whose sale was ordered by the court due to financial troubles amounting to R40 million.
Additionally, a group has successfully finalized a confidential deal to bring a new team to Free State football, signalling a revival of the region’s soccer scene.
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Proofreading by Jimmy Modise, copy editor at Briefly.co.za.
Source: Briefly News
