Phakaaathi Reporter
1 minute read
23 Nov 2018
3:42 pm

Celtic still on sale as club’s financial situation stabilises

Phakaaathi Reporter

A potential deal has fallen through because of Max Tshabalala’s pending tax debt worth R43 million.

Bloemfontein Celtic fans (Photo by Anesh Debiky/Gallo Images)

Bloemfontein Celtic owner Max Tshabalala is open to selling the club and is waiting for offers from potential buyers.

Tshabalala’s lawyer and cousin Mandla Tshabalala said they will consider concrete offers.

A potential deal fell through because of Max Tshabalala’s pending tax debt worth R43 million, and an overall R60 million from all his businesses.

Businessman and woman Sinki Leshabane and Moeketsi Mosola were interested in buying the club, but were discouraged by the debt owed to the South Africa Revenue Service.

Mandla Tshabalala told TimesLIVE: “What I know is that the club is still on sale‚ including the people who made an offer first [Leshabane and Mosola] – if they come with a further offer‚ that will be considered.

“They are still quiet. But if they were to make another offer that would be considered.”

Siwelele have had financial trouble for the past two seasons, with reports suggesting they were struggling to pay players’ salaries and signing on fees leaving some players frustrated and opting to leave the club. Players went on strike and threatened to boycott several matches.

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