KwaZulu-Natal giants AmaZulu Football Club have been sold to a new owner.
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As reported by the Siya crew this morning, Usuthu's club sale was pending, with an announcemnt imminent.
It has since been confirmed that the Zungu Investment Company (ZICO) have acquired 100% ownership of AmaZulu.
Dr Patrick Sokhela, the owner and chairman of AmaZulu Football Club (F.C) entered into an agreement with the Zungu Investment Company (ZICO) in which ZICO have acquired 100% ownership of AmaZulu.#AmazuluFC #Usuthu_Pride
Follwing an agreement between the parties, businessman Sandile Zungu will take over as president of the club, after acquiring the full ownership of the Durban-based side from the previous owner, Dr Patrick Sokhela.
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The announcement was made in a press conference on Friday afternoon in Durban, where the acquisition will be effective upon the approval by the PSL.
The acquisition will be effective upon the approval by the Premier Soccer League (PSL) and other pertinent authorities and constituencies.#AmazuluFC #Usuthu_Pride
AmaZulu faced financial difficulties last season and were one of the first clubs to confirm salary cuts when COVID-19 halted football in March.
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