Ex-Bidvest Wits CEO Jose Ferreira has opened up on why the club was sold to Tshakhuma Tsha Madzivhandila (TTM) as they will not exist in the 2020/21 season.
Ferreira says money alone was not behind the sale of the club but he expressed it was sad to see the club being sold and that some of the players are now without jobs.
The Clever Boys former boss has also praised COO Jonathan Schloss for running the club, saying he did an exceptional job but the coronavirus pandemic affected their season.
“It wasn’t budget because [of money, as] that is allocated every season,” Ferreira told the South African Football Journalists Association.
“If you get R10 you work with it and the following year if they [the board] said it’s R8 now, then you work with it.
“I don’t think finance was the issue at all. With the pandemic, there were many retrenchments. I think spending money on football didn’t make sense [for Bidvest].
"I think the pandemic took its toll on the future of the club.
“I was involved in the process. I know Bidvest compensated the staff who lost their jobs handsomely.
“I think the quality of people who have been here will find little trouble in finding a job. Others will benefit from people leaving the club. It’s sad others won’t be together.”
Moreover, the experienced football manager praised Schloss for doing well in his job behind the scenes to help coach Gavin Hunt’s side to a fourth-place finish on the log.
“Jonathan did a fantastic job. He continued to enjoy the support of the board. What changed was the pandemic. If it wasn’t for it, Wits would be around today,” he added.
“Many sad stories come with Wits dissolving and it’s a blow for the academy. Wits had the finest development together with SuperSport United and Ajax Cape Town.
"The fact that Wits are no longer there, we hope somebody will pick up the baton. We hope to see more clubs take development seriously. I know Kaizer Chiefs and Orlando Pirates have good academies.”