The South African Revenue Service [SARS] Curator has issued a statement to shed light on why Royal AM remains in the market.
On Thursday, Durban businessman Chockalingam “Roy” Moodley was reported to have made a successful bid at auction for the club after offering about R25 million.
Fast forward a few hours later, and news broke that the deal had fallen through, much to the dismay of football followers.
Royal AM was seized from businesswoman Shauwn Mkhize as SARS looks to recoup a R40 million tax debt, and as a result, Thwihli Thwahla has not played a match in 2025.
The successful bidder was Global Investments, and its director is Mageshpren Moodley, who is the son of Chockalingam Moodley. However, the deal is off due to a non-payment.
“In terms of clause 12 of the invitation to submit offers referred to above, the successful offeror was required to, within a period of 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.,” stated the SARS curator.
“Notwithstanding numerous demands to the representative(s) of Global Investments to comply with its obligations in accordance with inter alia the sale agreement, as of 10h00 today (27 March), 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 the 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 (yesterday) to the Offeror’s representatives.”
Subsequently, the curator bonis briefed the Premier Soccer League’s executive committee about the failed deal.
”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.”
It’s not yet clear when Royal AM would be put back on auction, but time is running out with the league scheduled to conclude on 24 May.
