Royal AM had THREE potential buyers but they all failed to save them for various reasons, the PSL revealed.
According to SABC Sport, Edward Modise, Eugen Botha and Roy Moodley’s Global Investments showed huge interest.
Modise, who reportedly owns the intellectual property of Bloemfontein Celtic, and was the highest bidder with R45 million.
However, he failed to come up with the funds at a stipulated time and so was Global Investments after their bids were accepted.
Botha, on the other hand, was willing to buy Royal AM for R15 million but his bid was rejected at first attempt.
This information was revealed at the PSL Board of Governors (BoG) on Thursday where members voted for the expulsion of Royal AM.
ROYAL AM’S THREE POTENTIAL BUYERS REVEALED
“The SARS curator, having taken ownership of the team to recoup a tax debt of around R15-million, informed member clubs that Edward Modise, Eugene Botha and Global Investments, owned by Durban businessman Roy Moodley, all bid to takeover Thwihli Thwahla,” reports the publication.
“Modise, who reportedly owns the intellectual property of Bloemfontein Celtic, offered R45-million for Royal AM but did not come up with the money by deadline, while Botha proposed a purchase price of R15-million, which was rejected and did not go any further.
“Moodley got the most mileage with speculation rife that he had broken through in sealing an agreement to land the PSL status.
“But Global Investment also failed to deposit the money in the time specified by the SARS curator and the potential deal ultimately collapsed.”
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