Absa Premiership

Swallows to buy their way back into PSL?

2016-07-05 11:20
Moroka Swallows logo (File)

Cape Town - Moroka Swallows could make a return to the PSL after confirming that they are in discussions with an Absa Premiership outfit over the potential purchase of their franchise.

After being relegated to the ABC Motsepe League at the end of the 2016/17 campaign - the second time they've experienced the drop in as many seasons, Swallows have experienced a rapid fall from grace.

However with a new consortium in charge, which is being headed up by Gauteng MEC for Education Panyaza Lesufi, the club is looking to buy their way back into South Africa's top-flight division in addition to settling their massive debts.

Speaking to Eyewitness News, Lesufi gave confirmation of the negotiations taking place between the Dobsonville based-outfit and both an unnamed PSL and National First Division side respectively.

"We have entered into two crucial discussions and are in the final leg with a team in the NFD and one in the PSL about selling their status," he revealed.

"I can boldly declare that we've managed to take the club out its problems, we have a clean balance sheet and bank account."

The MEC admitted that The Birds are "millions" in debt and owe both players and technical team members unpaid salaries, but highlighted the club's determination to resolve their financial difficulties.

"We understand who we owe and made commitments with those we owe and entered discussions with those we couldn't agree with," he added.

"I can declare that the debt is huge, it’s massive. It’s a debt that goes into a couple of million [of Rands]. Players are owed huge salaries and signing-on fees. The technical team hasn't been paid. Those are debts carried on."

Read more on:    moroka swallows  |  psl  |  soccer

 

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