Royal AM up for auction Shauwn Mkhize's Royal AM is up for auction and could have new owners in two weeks. Photo: Ayanda Ndamane/Independent Newspapers
Image: Ayanda Ndamane/Independent Newspapers
Royal AM’s turbulent saga has taken another dramatic turn, with the South African Revenue Service (SARS) officially putting the embattled KwaZulu-Natal club up for auction.
The troubled club have been put up for sale to recoup some of the R40 million that owner, Durban businesswoman and socialite Shauwn Mkhize owes in taxes. As a result, the club could have new owners within two weeks.
But, before you make a bid, you will need deep pockets and a high tolerance for financial risk. Bids must be submitted via email to pg@bidderschoice.co.za, and need to be accompanied by a R1 million deposit, paid to the SARS curator.
Bidders must also be able to prove that they can meet the financial requirements. The deadline for the bids is Friday, next week – March 14, while an announcement on the successful bid will be made on March 17.
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However, a successful bid will not necessarily mean the club is out of trouble. The new owners will also inherit its debts, including the R15 million owed to Serbian striker Samir Nurkovic. That money owned to Nurkovic is the reason the club handed a transfer ban by world football governing body FIFA.
The club also owe Brazilian defender Ricardo Nascimento R600,000 in unpaid wages.
The Royal AM saga has playing out for a number of months, and has affected other clubs, as well as the schedule for the ongoing Nedbank Cup.
Just last week, the club was expelled from the competition due to their inability to fulfill their fixture against Milford. The PSL announced last week Tuesday that Royal AM would be removed from the competition due to time constraints.
“Having reviewed these representations, the Executive Committee, in concurrence with Royal AM and the Curator, resolved that Royal AM Football Club will take no further part in the Nedbank Cup competition this season, in the interest of time,” the PSL said last week.
The club were last in action in December last year, and are currently rooted to the foot of the Betway Premiership having played just 11 games, 10 fewer than Magesi FC, the team above them in the league.
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