The Premier Soccer League (PSL) has confirmed the sale of Bloemfontein Celtic to Royal AM owner Shauwn Mkhize just before the 2021-22 DStv Premiership season kicks off.
PSL chairman Dr Irvin Khoza confirmed on Tuesday that Phunya Sele Sel has been sold to Royal AM in accordance with article 14 of the National Soccer League handbook.
The announcement will see Royal AM take over Celtic’s PSL status, which will in turn see the club relocate to Kwa-Zulu Natal from the Free State after Royal AM sold their GladAfrica Championship status to Tshakhuma Tsha Madzivhandila (TTM).
“The main point is that the transition must be seamless, because there are a lot of stakeholders affected by this transition,” Khoza revealed during a press conference on Tuesday.
“There is a very important issue that we discussed, the future financial stability [of the club and of the league as a whole]. This is a matter that faces us every day in football.
“We want to protect the history of a club, but the issue of sustainability is a problem. Regardless of our discomfort when we deal with transitions sometimes, we must make sure we are doing the right thing.
“We must consider two things, the issue of the insolvency of the club, the risk of insolvency. If somebody says ‘I cannot afford.’ What do you do?
“As a league, we have an obligation that the league must start with 16 teams, we’ve got commitments with sponsors, tv, etc. We don’t have too many in our football with deep pockets. That’s why it almost took us three days to discuss this matter.
“It is very important that the players and other employees must be protected. In a case of insolvency, people lose jobs.”
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