In a quick twist of events, Royal AM, which was reported to have been bought by businessman Chockalingam “Roy” Moodley earlier on Thursday, is said to be back on the market.
This is after the deal, believed to be at a region of R20-million between the SA Revenue Service (SARS) curator and Global Investments of the Moodley family, fell off at the last minute.
Failed to pay required fee within the agreed period
Global Investments is said not to have paid the required fee within the agreed period between the curator and the buyer.
“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 statement by the curator.
“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 buyer of the club was required to submit within a period of three days of the payment period of being advised by the curator.
“But as of today (Thursday) at 10am, Global Investments had failed to effect payment of the purchase price into the trust account of the curator bonis’ legal representative.
“As a result of the aforesaid failure to make payment as required, the curator was left with no other option but to cancel the agreement with Global Investment.”
Club officially back on the market
The Premier Soccer League (PSL) NEC is said to have been notified of the collapse of the deal. And the club is officially back on the market.
Royal AM, which was under the ownership of overzealous and popular businesswoman Shauwn “MaMkhize” Mkhize, endured a long period of financial struggles.
Mkhize’s business shenanigans led to her being investigated and embroiled in a legal battle with the SARS. This was over her alleged unpaid R40-million tax bill. And this also includes staff and player salaries.
