Absa Premiership

Celtic waiting on TS Galaxy owner's 'proof of funds'

2020-05-19 16:02
Max Tshabalala
Max Tshabalala (Gallo Images)

Bloemfontein Celtic could be on the verge of finally selling its Absa Premiership status, with GladAfrica Championship outfit TS Galaxy said to be one of the interested clubs.

Celtic owner Max Tshabalala has been trying to find a buyer of the club's top-flight status for a number of years but despite negotiations with several interested parties, a deal has never materialised.

And, despite the Siwelele faithful being in opposition to TS Galaxy owner Tim Sukazi's purchase of Celtic's Premiership status, club officials are currently locked in talks with the man in question.

However, Sukazi is not the only one interested, with several other parties having lodged their interest in recent times.

The lawyer of Celtic's owner, Mandla Tshabalala, provided an update on the current situation, telling Soccer Laduma: "We are waiting for Mr Sukazi to give us proof of funds.

"The Premier Soccer League will be involved in this much later when the two parties have signed, and payments are made - PSL is the last step.

"We are going to need to see proof of funds, either a bank guarantee or money in his trust account then we can begin the process, such as due diligence and whether it is feasible for him to take the team.

"But until we can reach that stage because everyone wants to buy a PSL team and might not have the money, we can't take this any further. Mr Sukazi has made an offer and it's not the first time."

Tshabalala, who is also the cousin of the Celtic owner, added: "It's not just him. I can't mention others, but there are several, who are still very quiet about it because of confidentiality.

"As you know, whoever brings funds first, you consider them."

- TEAMtalk media


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