Mnisi has final say on Highlands sale as PSL puts the brakes on
Highlands Park shareholder Sinky Mnisi is having the last laugh as he now holds the key to the club’s sale to TS Galaxy.
In the wake of news that the Premier Soccer League (PSL) turned down the deal, Mnisi said the deal could only happen if he is respected by Brad Kaftel, who owns 60% of the shares.
After Kaftel clinched a deal with TS Galaxy owner Tim Sukazi to sell Highlands’ status, Mnisi said he was not in agreement with the shareholders with regards to the sale of the club of which he owns 20%.
He previously indicated that he would challenge the sale as it was done behind his back.
According to his attorney, Mandla Tshabalala, the sale was turned down by the PSL on Monday based on section 112 of the Companies Act.
“The PSL is not against the deal going through, but it must meet the requirement, so the requirement means Sinky Mnisi, period,” Mnisi said on Wednesday.
“While people want us to comply, I also want my partners [Kaftel and Brookstone] to comply.”
Mnisi said he would only decide what will happen with the team after he meets Kaftel. He accused Kaftel of selling the club without him having a say on the deal.
“I’m only meeting Brad on Thursday. He wanted the meeting on Wednesday tand I said I’m not available,” he said.
“One thing for sure, I want people to respect minority shareholders. This is a victory for minority shareholders not for me. People should not be bullied.
“It would have been nice from the word go if they had treated me with respect. We would have sat down and discussed and found a solution to this.
“At the moment, I’ve got the key to this deal in my pocket. I will decide what will happen. Everything depends on the discussion I will have with Brad.”
Kaftel, however, remains optimistic that the deal will still go through.
“The deal is proceeding. I handed over all the players to Tim Sukazi on Monday morning and they are now going on camp with them on Thursday and that’s where we are,” Kaftel said.
“I’m sure we will get through the deal with the PSL. It is just a minor thing which I believe we will sort it out in the next few days. It is additional paperwork they want, but the deal is rock solid.”
PSL acting CEO Mato Madlala could not be reached for comment yesterday.
New owner Sukazi, meanwhile, released several players, including the experienced Musa Nyatama and Tapuwa Kapini. He is expected to announce Dan Malesela as head coach.