Bloemfontein Celtic's sale to be resolved 'one way or another by the end of the month'

Bloemfontein Celtic players warming up during 2017 Telkom Knockout Quarter Final match between Platinum Stars and Bloemfontein Celtic at Royal Bafokeng Stadium, Rustenburg South Africa on 04 November 2017.
Bloemfontein Celtic players warming up during 2017 Telkom Knockout Quarter Final match between Platinum Stars and Bloemfontein Celtic at Royal Bafokeng Stadium, Rustenburg South Africa on 04 November 2017.
Image: ©Muzi Ntombela/BackpagePix

The potential sale of Bloemfontein Celtic will be resolved “one way or another by the end of this month”‚ the club's CEO Khumbulani Konco has said.

Free State business people Sinki Leshabane and current city manager of Pretoria Dr Moeketsi Mosola are reported to be behind a R40-million bid to buy Stars from cash-strapped owner Max Tshabalala.

The prospective buyers were given 30 days to come up with the money from the middle of August.

Konco‚ though‚ said the sale would be resolved by the end of this month.

“By the end of the month. We can’t say it’s going to go through‚ but we just know it’s going to be finalised by the end of the month‚ one way or another‚” he said.

Konco said that the financial cash flow problems that were leading to players and staff not being paid on time have been resolved.

“Those issues have been sorted out. The club is now stable‚” the CEO said.

The sale is also awaiting PSL clearance.

Leshabane and Mosola as the majority shareholders would be the third owners of Celtic since the long-time club chairman‚ the late Dr Petrus Molemela‚ who ran the club from the 1970s‚ sold it to businessman Jimmy Augousti in 2001.

Augousti sold the team to Tshabalala in July 2018.

Tshabalala initially put the debt-ridden club on the market in late February.

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