PSL fail to pass AmaZulu bid to buy Thanda‚ but deal still likely
AmaZulu’s planned acquisition of Thanda Royal Zulu’s Premier Soccer League (PSL) franchise has been put on hold by the league‚ but is still on track‚ and could be finalised as early as this weekend.
PSL acting chief executive Mato Madlala told TimesLIVE that a meeting of the league’s executive committee (Exco) could not ratify the deal because there were various issues surrounding the documentation provided by the “seller and the buyer”.
She said the ratification of the deal had been put on hold‚ but that it could be resolved one way or another by this weekend‚ depending on how quickly AmaZulu and Thanda could address the issues that did not satisfy the Exco.
“There are various items that are not yet finalised – more information from the seller and the buyer. So it was not approved‚” Madlala said after an all-day Exco meeting at the PSL’s offices in Parktown.
Thanda – promoted as National First Division champions in early May – and AmaZulu have agreed terms on the sale‚ which now just needs to be passed by the PSL.
Asked if there is still a possibility of the PSL passing the deal‚ Madlala replied: “It’s open. There is a possibility. But there were two or three things that were not clear.
“We are still going to engage the buyer and the seller to clarify those issues that were not clear from their documents.
“And once we have that‚ then I have been tasked to round-robin the members of Exco‚ and to give a decision.”
Asked when that might be‚ Madlala replied: “Hopefully we will start engaging them from tomorrow (Friday)‚ and over the weekend‚ depending on how quickly they can do what they need to do. And then we can give answers.”
Madlala said it was in the interests of the league and the two clubs to have the matter resolved “as soon as we can”.
“That would be good for the buyer and the seller so that they can know where they are.
“It’s good for the league as well‚ so that members of the league can know where they will be playing‚ and who they will be playing against (next season). So the sooner the better.”
Asked if the unresolved issues relate to the PSL’s rules and constitution‚ she said: “Yes‚ and more. But they are fundamental. The fact that we couldn’t finalise it without those answers means they are serious issues that we need answers for.”
TimesLIVE’s understanding is that in terms of PSL rules‚ the two clubs cannot swap franchises. That was the reason for AmaZulu’s attempted purchase of Mpumalanga Black Aces a year ago being blocked by the league.
That would mean AmaZulu would need to find a third party buyer for their NFD franchise‚ and Thanda’s owners would be out of football.
Asked if AmaZulu finding a buyer is one of the current issues‚ Madlala replied: “That’s the least of the worries. That’s not an issue.”
Source: TMG Digital.