The sale of Royal AM's Premier Soccer League (PSL) status has encountered an unexpected setback, casting doubt on the club's future.
What was initially envisioned as a fresh beginning for Thwihli Thwahla has quickly transformed into a narrative marked by financial instability and missed opportunities.
So, what led to the breakdown of this high-profile deal?
In an unexpected move, the South African Revenue Service (SARS) placed the club under the curatorship of Jaco Venter, following the seizure of the team from its owner, Shauwn Mkhize, due to an alleged tax debt of R40 million.
With Mkhize stripped of ownership, the club's stability was severely disrupted, and the immediate consequences were significant.
The PSL suspended all of Royal AM’s fixtures, as the club was no longer in a position to meet its obligations for the remainder of the season.
In addition, the PSL withdrew the club from participation in the 2025 Nedbank Cup, with the Executive Committee citing both time constraints and an inability to adequately prepare the team.
In March, the club was placed on the market, attracting several high-profile bidders, all vying for the opportunity to acquire the club’s PSL status.
Among the contenders was Global Investments, who were ultimately chosen as the preferred bidder on March 19. However, this victory proved to be short-lived.
In a statement issued by the SARS curator on Thursday, it was revealed that Global Investments had been notified of their successful bid but was given a mere three-day window to make the required payment.
The terms of the agreement were unequivocal: failure to remit the payment within the stipulated timeframe would result in the collapse of the deal. Regrettably for Global Investments, they did not meet the deadline.
Venter confirmed via the statement that despite multiple requests for payment, Global Investments had failed to deposit the agreed-upon sum into the trust account.
🚨 Royal AM Update
— Cash N Sport (@CashNSport) March 27, 2025
The curator has released a statement and it has been revelead that the Moodley Family failed to make the required payment, the NSL was notified and the deal collapsed
Mageshpren Moodley is Roy Moodley's son.
Statement and CIPC listing below pic.twitter.com/uXhpKcOXTK
"By 10:00 today (10am, Thursday), we had no choice but to cancel the agreement," Venter stated.
"We provided them with ample time, but they missed the payment deadline."
By 10.30am, the curator had informed the National Soccer League’s (NSL) Executive Committee of the developments, and an emergency meeting was promptly convened to discuss the ramifications of the failed transaction.
The involvement of Global Investments also raises pertinent questions. The company’s director, Mageshpren Moodley, is the son of Roy Moodley—a businessman with controversial connections to former president Jacob Zuma.
Moodley has frequently been mentioned in state capture inquiries, with his political ties attracting significant scrutiny over the years.
With Global Investments now seemingly out of the equation, the search for a new buyer has taken on greater urgency.
The situation remains fluid, and as Royal AM’s curatorship continues, it is uncertain who will step forward to guide the club’s future.