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Status Gone! R12m For PSL Club

The status of another Premier Soccer League club has been sold, the Siya crew can reveal.

According to information provided to Soccer Laduma by high ranking officials, Cape United have agreed to sell its GladAfrica Championship status for a figure believed to be in the region of R12-million.

It appears a low offer at first glance, but given the current economic climate that has crumbled further, given the Covid-19 pandemic, it’s thought the club owners were satisfied with the offer hence it has been accepted.

But the PSL executive committee has yet to publicly confirm the ratification of the sale, though it is possible this may have already been approved because only the parties involved have received confirmation from the league in the past.

Usually, there are no media statements.

The Siya crew reported last Friday that mining magnate Robinson Ramaite was the one buying the Cape United status and relocating the team to Venda next season.

Yet again, the sale of PSL clubs is growing at an alarming rate with Bidvest Wits and Highlands Park two of the top-flight sides to go a similar route last year – Masala Mulaudzi and Tim Sukazi buying Wits and Highlands, respectively.

Recently, Maritzburg United chairman Farook Kadodia told the media that the Midlands outfit was also up for sale as it is becoming harder to keep the club afloat.

Story by @superjourno

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