The Premier Soccer League (PSL) executive committee on Thursday approved the sale of TTM from Mulaudzi to Abram Sello.
Mulaudzi had bought the status of Bidvest Wits at the end of last season, but financial difficulties forced him to sell on to Sello.
Speaking on radio on Thursday night, Mulaudzi said he sat down with his family during the festive season and they agreed to sell the club because it was costing them a lot of money
“Firstly I would like to apologise to those who are disappointed with the decision that we made (to sell the status),” Mulaudzi told Phalaphala FM, as reported by FarPost.
“We were criticized a lot when we bought the Bidvest Wits status to Venda and it was our people who were doing those things, being jealous and laughing at us when we bought Wits. I don’t know why they would do such things, but it’s the same people who wouldn’t buy a team who were criticising us. But there were also people who showed us support and were fully behind us through it all.
“But the challenges we were facing were becoming too much and it ended ruining my reputation, because football is my side business from my main businesses. So we realised that it was becoming too much, so perhaps because the football business was out of our depth because I gave inexperienced and unknowledgeable people from home too much responsibilities to run a football club. So we ended up having financial problems whereby I ended taking the little I was saving for my family,” he explained.
Mulaudzi added that he had learned a lot from the TTM fiasco.
“There are people who learnt from this and there are people who made mistakes, we also learnt because learning doesn’t stop. So we can’t stand here and point fingers or blame anyone for our failures, except for Sello Chokoe who stole around R4 million from us,” commented Mulaudzi.