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Cape Town All Stars confirm deal to sell NFD status has fallen through

3 weeks ago  tobi   Sport News

Cape Town All Stars have revealed the failed sale of the club’s National First Division status to a consortium led by Cape Town-based Ubuntu Trust. The deal was in place for a takeover of the club but the deal fell through on May 31 as the consortium announced their intentions to pursue another unnamed Cape Town club currently participating in South Africa’s second division. Cape Town All Stars general manager Faeez Dulvie confirmed the news via a statement on the club’s official website, which read: “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. “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.” The news is the latest in regards to the buying and selling of league statuses in South Africa, with fallen PSL side AmaZulu currently engaging in a deal to purchase the top-flight status of Thanda Royal Zulu, who will be back in the Premiership next season after winning the NFD.