Foreign Investors Overtake Local Interest in R20 Million Race to Buy Struggling Royal AM
- The auction to buy financially-strained PSL side Royal AM has risen to R20 million as foreign investors enter the race
- Royal AM are currently bottom of the log after they were handed a match ban due to their R40 million SARS debt
- Local football fans reacted on social media to say they want an end to the sage surrounding the PSL side
PSL club Royal AM could be bought by a foreign investor as the auction draws a price of R20 million for the financially-strained side.
The Pietermaritzburg-based club is currently bottom of the log after being handed a match ban due to their R40 million SARS debt.
Source: Instagram
Due to their massive tax debt and issues surrounding staff payment, the club has been put up for sale by SARS with several investors showing an interest.
Royal AM could be bought by a foreign investor
The bidding war for Royal AM enters a new stage, according to the tweet below:
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According to a Soccer Laduma source, owner Shauwn Mkhize could be bought out by a foreign investor as investors from Russia, Greece and Congo enter the bidding war.
The source said:
“Interest from a Congolese and Greek buyer have come through and it is believed that there is a chance that whoever gets the club will be a foreigner. Bidding starts at R15 million, but the interested candidate is believed to have gone over R20 million.”
The club confirmed their tax issues on Instagram:
Investors line up for Royal AM
Apart from the foreign investors, local bidders have arisen in the form of popular musician Black Coffee and MK Party’s David Skosana.
Due to their match suspension, Royal AM have also been eliminated from the Nedbank Cup, while they still have 19 matches left to play in the PSL.
The club faces a tough battle for top-flight survival as they are bottom of the league with eight points, 13 away from 15th-placed SuperSport United.
Source: Twitter
Fans want an end to the Royal AM saga
Local football fans said on social media that they want an end to the Royal AM saga as they cannot wait for things to return to normal.
Snyman Ernerst Radebe wants a change:
“Can't we really focus on the remaining 15 teams? This thing of buying status is not working or benefiting our league.”
Archibald Mduduzi Jwara has a wish:
“My wish is for a buyer to restore Bloemfontein Celtic to their rightful place, the PSL.”
Gugu Jamangaye Mahlangu called SARS a bully:
“SARS just wanted to show the people how bullying they can be, why can't SARS allow her to make arrangements for the payment?”
Brazo Ntukza said Royal AM is not a sound investment:
“Why buy a team that is bottom of the log?”
Steve Zakhele Mthethwa wants the deal to happen:
“Let them do it fast, we need our six points urgently, Sundowns thought they won the league.”
Popular Mzansi musician enters bidding war for Royal AM
As reported by Briefly News, South African recording artist Black Coffee has entered the bidding war for Royal AM.
The club are currently bottom of the PSL after being served a match ban due to their R40 million tax debt and they have been put up for sale by SARS.
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Source: Briefly News
