Mike Moon
Horse racing correspondent
2 minute read
20 Aug 2020
5:15 am

Slack and co to Phumelela rescue

Mike Moon

Oppenheimer daughters will put up R550m to keep the company afloat.

Revered trainer Wendy Whitehead saddles three runners in Race 6 at the Greyville Polytrack meeting on Wednesday. Picture: iStock

Mary Oppenheimer Daughters (MOD) looks likely to take over the horse racing interests of bankrupt Phumelela Gaming and Leisure – if creditors vote to accept a proposed business rescue plan. If the plan gets the nod, MOD will put up R550 million in funding to keep the company afloat while its financial house is put in order and racing in SA is saved. Business rescue practitioner John Evans released his plan for SA’s biggest racing operator and betting company yesterday. Evans calls for Phumelela to continue trading under rescue administration until at least 2022, while many of its component parts...