THE PSL has given Swallows FC owners an ultimatum – to sort out the issue of buying Free State Stars before the end of this week.
PSL chairman Irvin Khoza told the media yesterday that the organisation could not wait any longer for the deal to be concluded, as it was disrupting the planning of the new Absa Premiership season due to kick off on 23 August.
The consortium co-ordinator, Gauteng education MEC Panyaza Lesufi, and other unidentified stakeholders were initially given 72 hours last week, which was extended at the weekend.
But it seems the deal is on the verge of collapsing, as time is running out for the Birds consortium, who has until tomorrow to finalise the deal.
Said Khoza: “As it stands, there is no approved transaction. The parties have not informed the league about the matter between them. There is nothing for the league to properly consider or approve. Media comments that Swallows are back in the league and Stars are no longer a member, are incorrect and regrettable.
“We cannot wait much longer if we are to consider the matter. If we don’t have clarity by the end of the week there will be no transaction, change of club or anything like that.”
Khoza insisted that the members of the trust needed to meet the requirements set by the PSL before the sale could be approved. He added: “There are certain conditions on the sale agreement. One is that they put the trust money into an account. Also, the players’ interest should be finalised.
“The league also wants to know if the members of the trust will have any interest in the business of the club within the next 12 months.
“The future financial viability of the people who buy in needs to be guaranteed.
“We needed to get that information in order for us to verify it – and we are still waiting for it. We need the full facts on players’ contracts and whether the players are satisfied. ”
Khoza stressed that the most important matter was to know the identity of those involved in buying the club.
He went on: “We don’t know who is part of the trust, we only know of MEC Lesufi, who represents the trust.
“We need to make sure we are dealing with the right people and are all accountable.”
