R50m PSL topflight sale in the works?

There are still denials all around regarding the potential sale of one of the oldest clubs in SA football, but the purchase of Bidvest Wits’ Absa Premiership status – understood to be worth around R50 million – is said to be a done deal.

On Monday, the Siya crew reported that the club was on the verge of being sold to Tshakhuma Tsha Madzivhandila FC owner Masala Mulaudzi, with a R10 million security fee believed to have been paid to Wits to all but guarantee the sale can go through.

It’s now emerged that some players, especially those who are high up the salary bracket at the club, face an uncertain future about where they will play their football next season as it’s expected they would be reluctant to relocate.

According to Siya sources, Mulaudzi, who has confirmed that he sold the TTM status for R10 million and paid a non-negotiable fee to secure a team in the topflight – now believed to be Wits – will rename the Braamfontein-based outfit and relocate it to its new base in Thohoyandou ahead of the 2020/21 season.

Wits have struggled financially over the last year or so, especially after Brian Joffe cut ties with Bidvest and stepped back as chairman, being succeeded by Alan Fainman. The club went through a restructuring process and had to enforce stringent measures even in their player recruitment policy at the beginning of the current season.

It’s no surprise that they would have been put up for sale, especially if an offer of around R50R million is on the table.

Siya sources informed the crewc that Mulaudzi might not be the sole buyer, but could be tag-teaming with his GladAfrica Championship counterpart at Real Kings in Shauwn Mpisane given that she, too, has aspirations of owning a club in the topflight.

More details will emerge in the coming weeks, with Mulaudzi and Mpisane needing to approach the PSL executive committee to have the new change of ownership ratified, although – according to the NSL rule book – Mpisane also has to relinquish ownership of her Real Kings status to guarantee the deal is viable.