Chiefs Clear Debt, Await FIFA Verdict
Kabelo Boranabi | Monday January 25, 2021 16:51
Magosi were last year ordered by FIFA to pay Mabhena his dues after he filed an unfair dismissal complain against the team. The club was given until December 10 to settle the debt, which they failed to do.
On the deadline, Magosi had managed to raise just P17,000. But on Saturday, at the Annual General Meeting held at Maranyane Technical School, out going chairperson, Thapelo Tsheole said the debt had been cleared with the assistance of a 'friend'. 'It was a tricky one. We lost the case and FIFA demanded that we pay our former coach.
We have managed to pay P111,000, which was the balance after they charged us six percent interest. So with a help of my friend, we managed to raise the funds and pay the debt.
The only remaining debt is for the players that were with us in the 2016/2017 season,' Tsheole told the gathering. However, Chiefs are not off the hook yet after missing the December 10 deadline as they await a verdict from FIFA Disciplinary Committee (DC), which is to meet this week.
'FIFA had written to us and we wrote outlining that we have been affected by COVID-19 hence we struggled to raise the funds. Our letter has been sent to FIFA, the DC is meeting this week so we are waiting to see if they will punish us or not,' Tsheole said. Mabhena had initially demanded P121,100 from Chiefs but following submissions from both parties, FIFA eventually ruled that he be paid P116,665.
Meanwhile, Magosi are in talks with Print Afrique over a first of its kind 10-year sponsorship deal. Print Afrique is registered as a dynamic media company specialising in printing, branding and designing. The two parties are yet to formalise the deal but have agreed on terms.
'We have found the sponsor for the team, Print Afrique. The proposal is for the next 10 years. The deal is not yet finalised, all we need is to sign on the dotted line,' Tsheole said. He also announced that local sports apparel manufacturer, WUSA has extended its partnership with Magosi by a further year.
Tsheole further said the club was still lagging in moving towards privatisation.
He said in his tenure they have failed to find a credible investor for the club. 'We have received so many offers but there has not been a credible investor. So I could not give the club just to any investor. So in terms of privatisation, we have not made any progress,' he said.