Royal AM auction closed
In a surprising turn of events, the auction of Royal AM FC is moving forward, despite efforts by business mogul Shauwn ‘Mamkhize’ Mkhize to prevent it.
The auction was triggered by an outstanding debt of R40 million owed to the South African Revenue Service (SARS).
Mkhize’s attorney, Rudolf Mastenbroek, criticized the auction as unjust.
He argued, “The auction attempt is unfair to proceed without the court return day of the preservation having been anticipated or without the return day being heard, without my client having had an opportunity to explain why the preservation order should not have been made in the first place.”
Interest in acquiring the team was high, with several parties submitting bids. Notably, an anonymous MK Party member of Parliament and a Russian businessman expressed interest.
The deadline for bid submissions was set for Friday, 14 March, at 13:00, with a minimum entry of R1 million.
Reports indicate that David Skhosana and his partner offered R21 million, while Bidvest Wits General Manager George Mogotsi also placed a bid.
The final sale and the announcement of the new owner are scheduled for 17 March.
Royal AM FC has been battling financial woes, including a liquidation order last year and a FIFA transfer ban due to an unpaid debt of R15 million (excluding interest) owed to former player Samir Nurkovic.
