The former Kaizer Chiefs, Mpumalanga Black Aces and United midfielder was deemed surplus to requirements at Matsatsa a Pitori after making only six appearances last season.
The 33-year-old midfielder was linked to a move at Baroka FC or Polokwane City, but Mathebula is still without a club.
A source close to Mathebula told Phakaaathi that the midfielder was on the verge of signing for Polokwane City, but he couldn’t agree on terms with Rise and Shine.
“Polokwane were interested in signing him and had begun talks over a contract, but the financial terms were a major stumbling block. He was not happy with what they were offering him,” said the source.
In September last year, Mathebula was linked with a move back to Chiefs, but that move failed to materialise.
According to reports, the Chiefs management was keen to bring Mathebula back to the club, but coach Steve Komphela blocked that move, saying Mathebula is not the kind of player he was looking for.