Swallows Chairman Gives Reasons Why He’ll Be False To Sell The Club

Moroka Swallows Chairman Reveals Financial Struggles and Potential Sale

Moroka Swallows Chairman David Mogashoa sheds light on the financial challenges plaguing the club, hinting at the possibility of a sale if sponsorship is not secured.

Financial Struggles and Paying Players:

Mogashoa emphasizes the financial strain, citing the difficulty in covering the club’s R4.2 million salary bill with the received grant of R2 million. He points out the challenge of meeting logistics costs as per the PSL compliance manual, leaving the club with a shortfall.

“The grant is never enough, my brother. Swallows’ salary bill is R4.2 million. The grant you are talking about must still cover logistics… Without a sponsor, you are screwed.“

Misfortune with the Telkom Sponsorship:

Mogashoa reveals the impact of the PSL’s rejection of a Telkom sponsorship deal, a three-year agreement that would have alleviated financial burdens. The chairman traces the club’s backlog issues back to this incident, leading to ongoing financial struggles.

“There has always been a backlog from that Telkom issue because the league dragged us for a couple of months… You will never run the Premier League club with the grant.“

Stalled Matches and Payment Standoff:

The financial crunch has led to non-payment issues with players, forcing Swallows to request the cancellation of two matches. Mogashoa remains steadfast in his assurance that players will be paid according to their contracts by the end of December.

“The grant is enough for those clubs paying small salaries, which is a direction we must all go down… This thing we want to pay big salaries; it doesn’t work. It only works for those who have sponsors.“

Potential Sale of the Club:

With the bleak financial outlook, Mogashoa openly discusses the possibility of selling the club if sponsorship remains elusive. He suggests that selling or releasing players and relying on youth talents might be the only viable options without a sponsor.

“Look, if I can’t get a sponsor, I’m going to have to do it or release a lot of players and play with youngsters.“

Moroka Swallows faces a challenging financial landscape, with Chairman David Mogashoa contemplating drastic measures, including the potential sale of the club, if the much-needed sponsorship is not secured. The chairman’s candid remarks provide insight into the struggles of maintaining a Premier League club without sufficient financial backing.