Royal AM deal falls through after curator confirms payment failure

SABC Sport on Thursday reported that Thwihli Thwahla had returned to business following a Durban businessman's takeover of the club, with the players spotted back at training.

However, in a sharp turn of events, the SARS curator released a statement confirming that the takeover is in fact not official after the bid amount was not paid into it's trust account by the 10:00 deadline on 27 March 2025.

"The purpose of this communication is to notify interested parties of the outcome concerning the intended sale / auction of the Royal AM Football Club," read a statement from the curator of Royal AM on Thursday evening.

"The curator bonis, on 19 March 2025 notified the representatives of Global Investments 0107 (Pty) Ltd (“Global Investments”) that they were the Successful Offeror / Purchaser of the football club.

"In terms of clause 12 of the invitation to submit offers referred to above, the Successful Offeror was required to within a period 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.

"Notwithstanding numerous demands to the representative(s) of Global Investments to comply with its obligations in accordance with inter alia the sale agreement, as at 10h00 today [Thursday], 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 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 today to the Offeror’s representatives."

The deal was expected to be put forward to the Premier Soccer League's Executive Committee for approval prior to confirmation, but given the above outcome, it remains uncertain what will now happen with the KwaZulu-Natal club and its contracted personnel.

The curator further confirmed that a PSL Exco meeting scheduled for Thursday to deliberate over the club's future was subsequently called off.

"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 today," further read the statement.

"The Seller, as represented by the curator bonis, has reserved its rights to pursue appropriate legal redress against Global Investments for the damages occasioned as a result of the aforementioned breach.

"The curator bonis extends his gratitude to the National Soccer League for the guidance provided and for affording the curator bonis an opportunity to sell Royal AM FC as a going concern."

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