All Stars confirm failed sale of NFD status
The club says the deal to have the club bought by a consortium led by Cape Town-based Ubuntu Trust fell through because the consortium is busy concluding a similar deal with another Cape Town-based club.
Gerald Modisane and Nyembezi Setelele of Cape Town All Stars FC during the National First Division match between Cape Town All Stars and Thanda Royal Zulu at Parow Park on May 07, 2017 in Cape Town, South Africa. (Photo by Ashley Vlotman/Gallo Images)
“The sale of the NFD status of Cape Town All Stars to Ubuntu Trust was near conclusion bar certain terms and conditions that were to be met by 31 May 2017,” said Mr Faeez Dulvie, All Stars General Manager.
“We have since been advised that the Ubuntu Trust has opted in concluding a similar deal with another Cape Town-based NFD club. This has resulted in our club status being taken back to the market. Those who may be interested to engage in discussions are welcome to contact me.”
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