It’s Over! SARS sold Royal AM Football Club to recover outstanding tax
It’s Over! SARS sold Royal AM Football Club to recover outstanding tax.
The South African Revenue Service (SARS) is set to sell Premier Soccer League (PSL) club Royal AM, with the sale expected to come at a significant discount compared to the price its owner, Shauwn Mkhize paid for the team in 2021.
The club’s troubled history, including mounting debts and poor league performance, have led to its seizure by SARS due to Mkhize’s alleged tax liabilities of around R40 million.
The club’s future is uncertain as potential buyers take on a range of issues alongside the team’s potential relegation threat.
iDiski Media Co-founder Nkululeko Nkewu explains, “We are in the territory where including the people who are listening to this broadcast, normal millionaires can no longer own Premier Soccer League teams. It is very expensive. It means in effect, that we will always have people who are called tenderpreneurs, owning football clubs because the price on the ticket is very expensive.
You cannot have R50 million and expect to own a Premier Soccer League Club. We’ve learned this lesson with Swallows and they told us that they had money problems. We’ve learned this lesson with other clubs as well. And that’s why there’s this buying and selling of statuses is all the time. Just because I have 10 million and I love football, unfortunately that no longer qualifies to own a Premier Soccer League club.”
SAFM The Morning Brief
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