PSL

Free State Stars sale falls flat

2016-07-22 17:23
Free State Stars (File)

Cape Town - Free State Stars have confirmed the failed sale of the club's franchise to a consortium led by Gauteng MEC for Education, Panyaza Lesufi on Friday.

According to Stars chairperson Mike Mokoena, the deal hit a snag after the consortium failed to meet some of the conditions of sale set by the National Soccer League, more particular that relating to the payment of the sale price.

"Free State Football Club had been approached by Mr. Panyaza Lesufi who offered to buy our Club football franchise on behalf of his consortium. We went as far as signing the sale agreement which was subject to certain conditions which unfortunately could not be met by Mr. Lesufi or his consortium. When the offer was presented to us, it became a very hard decision to make as football has been part of our lives for many years. However, due to financial constraints that we had to endure for some years, we were left with no choice but to accept Mr. Lesufi's offer,” Mokoena said.

Read more on:    free state stars  |  psl  |  soccer
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