Johannesbrug - Free State Stars owner Mike Mokoena has revealed he has had to sell several key players to “keep the club afloat”.
He was explaining on Friday why he had initially accepted an offer from a consortium led by Gauteng Education MEC Panyaza Lesufi to buy the Bethlehem outfit.
Just an hour before close of business on Friday, Stars confirmed the proposed deal had collapsed as the consortium had failed to meet the requirements set by the Premier Soccer League.
It remains unclear whom Panyaza was representing. The MEC had expressed delight earlier in the week that the league would endorse the sale and that Moroka Swallows - who were relegated from top-flight football two seasons ago and then from the National First Division to the ABC Motsepe League this year - would be back in the PSL.
“We went as far as signing the sale agreement, which was subject to certain conditions, which unfortunately could not be met by Mr Lesufi and his consortium,” Mokoena said.
“When the offer was presented, it became a hard decision to make as football has been part of our lives for many years. However, due to the financial constraints we have had to endure for some years, we were left with no choice but to accept Mr Lesufi’s offer.
”One of the conditions set by the league for the deal to go through was that the money - reported to be in the region of R55 million - be paid into a trust by the consortium, failing which the sale would fall flat.
The identities of the consortium members remained unknown, even to Mokoena and his family, yesterday.The deadline was announced by PSL chairman Irvin Khoza at an impromptu press conference on Wednesday.
It was there the chairman of the league expressed dissatisfaction with Lesufi for breaking a code of silence regarding the possible takeover of Stars.
He gave the would-be owners of the “new” Moroka Swallows “until the end of the week” to sort out the paperwork.Stars have sold three players to Orlando Pirates: defender Justice Chabalala, midfielder Sello Jaftha and striker Ayanda Nkosi.
Assistant coach Bradley Carnell is heading to the Buccaneers in the same capacity to help recently appointed mentor Muhsin Ertugral.Lucky Mohomi, one of Ea Lla Koto’s best players last season, has joined Mamelodi Sundowns.
Although these deals are probably worth millions, Mokoena lamented the lack of a main sponsor for his club.“Our situation had been made worse by the loss of our sponsor, Bonitas, which left a huge hole.
“We found ourselves in a situation where we had to inject in excess of R12 million to keep the club afloat.
“We were quick to realise the situation was unsustainable and that we were running the risk of being relegated or running the club into bankruptcy.
“We had to be unselfish and do what was right for the club. Now that we find ourselves in this situation, we have no choice but to soldier on and hopefully turn things around.
”Mokoena said the potential sale had not derailed preparations for the season under Frenchman Denis Lavagne, recruited last month to coach the side.“Soon we will announce his assistant and a few new players. It is our intention to keep the club in the league and improve our financial situation to remain in top-level football for many years.”
Saturday Star