Former Bloemfontein Celtic CEO Khumbulani Konco has shed some light on the club’s alleged rescue mission by Free Sate-businessman Lebo Mokoena.

Read: Konco Explains Sad Celtic Departure

In May last year, Mokoena, who is originally from Bloemfontein, and owns a logistics entity, came out in the media claiming that he would bankroll his hometown club, which would ultimately save them from their financial woes.

However, 10 months on and Celtic are in no better position than they were when it was first reported that the club could be sold, and that TS Galaxy owner Tim Sukazi was interested in the status.

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In a tell-all press conference with the South African Football Journalists Association (SAFJA) the club’s former CEO Konco, who was retrenched by the club this week, opened up on the rescue mission that never materialised.

“That rescue never happened, never, never, never,” Konco told journalists.

“The gentleman you mentioned, I have never met him, but I read that he was talking saying that he is gonna rescue the club and that he’s given that. He’s never done anything; he’s met with supporters that is what he has done. I’ve heard his business model and it won’t work in football, so my answer is that (rescue) never happened.

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In addition, Celtic unveiled their new management team on their social media channels on Thursday following a retrenchment process by the club, in which only Konco was let go.

Click through the gallery to view Celtic's new management team: