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Celtic For Sale Between R80 - R100 Million?

Bloemfontein Celtic chairman, Max Tshabalala, has decided to sell the club, with his asking price set at between R80 and R100 million, according to Siya sources.

Read: Khanye Tips Ekstein To Become The Best At Chiefs

Tshabalala decided to put the club up for sale following action from irate and disgruntled Siwelele supporters, who are not happy with the businessman being at the helm of the club’s operations.

Following Celtic’s 1-0 league loss against Orlando Pirates on Saturday, Tshabalala voiced his disapproval at the action taken by the Phunya Sele Sele faithful after they vandalised Orlando Stadium by tearing up seats and projecting missiles, which allegedly brought the league into disrepute.

The chairman took to Celtic’s official website a day after the incident to make a statement regarding the off-the-pitch incidents witnessed at the stadium and indicated that he is looking to sell the club.

In part, the chairman said, “I had a chat with some of the fans who boldly told me they hate me and want me out of the team with immediate effect, hence I am calling on businessmen in and around the Mangaung to come up with offers to buy the team and take Celtic forward.

Tshabalala confirmed that he has already received two offers for the club, with latest news being that two business people in KwaZulu-Natal also made enquiries regarding the sale of the club, however there has been no confirmation if there is a correlation between the offers.

The club is expected to be sold in the region of R80-R100 Million, which is an indication of what a PSL club is worth. Last year, Mpumalanga Black Aces were looking to sell their PSL status to AmaZulu for a reported R82 million, which included Usuthu’s NFD status.

Read: Masilela: No Team Can Stop Downs In Africa

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