Kaizer Chiefs have commented on reports that the club’s top-flight status will be sold to new owners.
Following some of the changes made by the Soweto giants recently, including the termination of Gavin Hunt contract, recent reports on social media have suggested that the club will be sold.
It has been reported in a post on social media that Chiefs would be sold to Saudi oil giants for R512 million.
According to the Facebook post, a source close to Chiefs chairman Kaizer Motaung revealed that the Motaung family allegedly claimed that it has been highly unsustainable to run a big club like Chiefs without credible sponsors.
Furthermore, the post alleged that Chiefs have been facing financial difficulties in the last five years after losing some of the sponsors and that the club lost R278 million in the last five years, which has left the club almost bankrupt.
However, Chiefs have come out to set the record straight and dismissed the reports about the club sale as fake news.
“Fake News! The Club is NOT for sale! Please be aware of fake news going around social media and other platforms. Please follow us on our official Club properties for authentic news. You can e-mail us and call us to confirm as well,” Chiefs stated on the club’s official Twitter account.