Sukazi backs away from buying Celtic
TIM Sukazi has decided to take a step back in his pursuit to acquire Bloemfontein Celtic.
The TS Galaxy chairman was allegedly set to complete the final guarantees in pursuit of
Celtic’s Premier Soccer League status yesterday but recent reports disclosing that persons of interest in the Free State are also interested in buying the Bloemfontein-based club have forced Sukazi to withdraw his interest – for now.
“Reports are stating that there are people who are Bloemfontein-based, who want to come to the rescue of Celtic, following my call,” Sukazi said yesterday.
“Remember, I’ve always maintained that if there are Bloemfontein investors, they must show their hands. They must put their money in and rescue the club because we as TS Galaxy want to buy that status on the premise that there are no Bloemfontein investors.
“Obviously, Celtic are in financial troubles. In the name of fairness and to prove that we are true to our word, it makes sense for us to take a step back and allow the process to unfold. We are wishing them good luck,” Sukazi said.
Galaxy are campaigning in the GladAfrica Championship and are currently 12th in that league, 20 points behind pacesetters Ajax Cape Town and 12 points behind the last Absa Premiership promotion play-off spot with six rounds to play. The club are also the reigning Nedbank Cup champions.
Sukazi maintained that he was still interested in buying Celtic, or at least its status, but only if the Free State-based interests failed in their bids.
“Obviously this has put a halt in our pursuit and we had to stop our bankers,” he said. “We will allow that process to unfold.
“According to our agreement, which is in front of me, our financial closure was (yesterday), which means the guarantees which would have completed the deal (have lapsed). We had to put that on hold in the name of fairness. They owe me no explanation. They do what they want to do. I’m not part of their agreement.
“If there are no conclusions in the first two weeks of next month, I’m sure we will have to consider that.
“We are ready,” he continued. “Our things have been done. We’ve done our submissions with our banking partners. It’s not like we will be doing new submissions and starting new processes from scratch.”