End of an era: Celtic destined for oblivion as Sukazi confirms deal to buy the Bloem club's PSL franchise
TS Galaxy owner Tim Sukazi has confirmed that he has concluded a deal in principle to buy the Premier Soccer League (PSL) franchise of Bloemfontein Celtic from Max Tshabalala.
Sukazi confirmed that his intention will be to move the PSL franchise to Mpumalanga and rename it TS Galaxy‚ and to sell Galaxy’s current GladAfrica Championship franchise.
He said‚ with no potential buyer in the Free State having currently emerged‚ this means in the near term Celtic‚ one of the best-supported teams in the country and a notable force in SA football since the 1980s‚ will cease to exist.
Free State businessman Tshabalala’s financial challenges have been well documented‚ and he has had Celtic on the market for more than a year.
“Yes‚ that’s correct‚” Sukazi said‚ confirming the deal in principle.
However he cautioned the deal also has some important steps remaining to be concluded.
“We still have some margins because we have not made the financial close on the deal – we need to reach that.
“On May 31 we need to close on the financial aspect of the transaction. That will be us delivering guarantees and so on.
“We need to get past that‚ and thereafter go and apply for approval in the PSL. And then‚ ja‚ if the executive committee of the PSL approves the deal then we are good to go.
“So it’s the two critical parts – the financial close and PSL approval.”
Sukazi said the price and payment structure have been agreed. He could not disclose the sum for which Celtic have been sold.
The Galaxy owner said if and when the deal is finalised he will relocate the PSL franchise of Celtic to his current club’s base in Mpumalanga.
He then sells the GladAfrica Championship franchise of Galaxy.
Sukazi said no buyer from Bloemfontein of Galaxy's GladAfrica Championship franchise has emerged as yet‚ to try to preserve Celtic in the second-tier.
So unless one steps forward‚ Celtic will cease to exist in the near-term‚ with the only hope of the club being brought back into existence being if anyone on the future revives the club.
He said Tshabalala has no interest in buying the GladAfrica Championship franchise in a swap deal.
“The owner of Celtic wants out. That’s how I understand it‚” Sukazi said.
“He had been there before. He has been in the PSL‚ he has been in the ABC Motsepe League. He is not reinventing any wheel here.”
Sukazi – who was also a former soccer agent‚ or intermediary – owns a legal practise‚ Tim Sukazi Incorporated.
Galaxy have played their matches at Kameelrivier Stadium in Kameelrivier‚ a village in the lowveld region of KwaNdebele in Mpumalanga.