Local News 29.7.2016 09:54 am

Stars’ mounting debts

Free State Stars. Photo: Ashley Vlotman/Gallo Images

Free State Stars. Photo: Ashley Vlotman/Gallo Images

Phakaaathi has learnt that Free State Stars are knee-deep in debt.

“I don’t know how it happened, but the team has debts amounting to R30 million and that is the real reason they wanted to sell,” said a source.

Stars had a written agreement with the Panyaza Lesufi-led consortium who wanted to buy the team and rename them Swallows FC as part of plans to revive Moroka Swallows.

The deal however fell through when Lesufi and company failed to come up with the money in time.

“I don’t know how they will survive, but I don’t think the money they made from sale of their players is enough to cover their debts,” added the source.

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2 Orlando Pirates 4 8
3 Cape Town City 5 8
4 Polokwane City 5 8
5 Bidvest Wits 3 7
6 Kaizer Chiefs 4 7
7 Platinum Stars 4 5
8 SuperSport United 4 5
9 Chippa United 2 4
10 Highlands Park 4 4
11 Baroka FC 4 4
12 Maritzburg Utd 5 4
13 Ajax Cape Town 4 2
14 Free State Stars 4 2
15 Sundowns 1 1
16 Bloem Celtic 3 1