The deal between the SA Revenue Service (SARS) curator and Global Investments fell off at the last minute.
Royal AM, which were reported to have been bought by Chockalingam Moodley of Global Investments, is back on the market.
This is after the deal between the SA Revenue Service (SARS) curator and Moodley’s Global Investments fell off at the last minute.
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According to a SARS curator Jaco Venter’s media statement, Global Investments was notified on 19 March of their successful bid to acquire the status of Royal AM and was asked to pay within three days of notification, but the deal collapsed due to non-payment.
“The purpose of this communication is to notify interested parties of the outcome concerning the intended sale or auction of the Royal AM Football Club,” read the curator’s statement.
“After having received offers for the purchase of the Royal AM Football Club, the curator bonis, on 19 March 2025, notified the representatives of Global Investments that they were the successful offeror or purchaser of the club.
“In terms of clause 12 of the invitation to submit offers referred to above, the Successful Offeror was required to within a period 3 (three) days (“Payment Period”) of being advised by the curator bonis in writing that he, she or it is the Successful Offeror, pay the accepted offer amount [minus the deposit amount] [“Purchase Price”] into the trust account of VZLR Inc.
“Notwithstanding numerous demands to the representative(s) of Global Investments to comply with its obligations in accordance with inter alia the sale agreement, as at 10h00 today, it / they had failed to effect payment of the Purchase Price into the trust account of the curator bonis’ legal representatives.
“As a result of aforesaid failure to make payment as required, the curator bonis was left with no other option but to cancel the agreement with Global Investments, which election was communicated at approximately 10h30 today to the Offeror’s representatives.
”The curator bonis notified the members of the Executive Committee of the National Soccer League shortly thereafter, as they were scheduled to meet to deliberate the matter at 11h00 today.”
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With only seven weeks left before the end of the season, it remains to be seen if Royal AM will be bought and they will be able to finish their remaining game before that.
Before their games were indefinitely suspended by the PSL, Royal AM had played only 11 games. Thwihli Thwahla are currently at the bottom of the Betway Premiership standings with eight points.
They trail 15th-place SuperSport United by 13 points.
