'It has to make financial sense' - Highlands Park chairman Kaftel would consider selling PSL status


Highlands Park co-chairman Brad Kaftel says they would consider selling the club's PSL status if they receive a lucrative offer.

This comes after Bidvest Wits revealed that they have agreed to sell their PSL status to National First Division (NFD) club Tshakhuma Tsha Madzivhandila, pending PSL approval.

Once the deal is approved, Wits will join the likes of Thanda Royal Zulu, Mpumalanga Black Aces and Dynamos FC, who have sold their top-flight status over the years.

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Kaftel, who owns the Lions of the North with Larry Brookstone and Sinky Mnisi, did indicate that they have no intention of selling the club at the moment.

“At this point, we haven’t sold our status. Our club is alive, well, and kicking. As a businessman, you always look at any business proposition," Kaftel told IOL.

"I can’t say no to that. But if even we had to consider something like that, it has to make financial sense. It will be a sad day. It will be emotional because we love the club,

"We love our supporters, players and coaching staff. It’s been a 14-year journey from the Castle League. It’s been an amazing journey and we love the game."

The Lions of the North boss expressed his love for the team, but he explained that if they receive an enticing offer it would be a question of finance against emotion.

“Emotionally, if you ask me, will I ever consider selling a club? My answer will be simple: Never, never ever," he continued.

“I want to keep it forever. But from a financial perspective, if someone comes along and they make you a right offer, I’ll say let us put it on the board for other shareholders to have a look at it. I suppose that is a normal business practice.

“Even if someone went to any club and made them a formal offer that is legitimate and that is very enticing, they will have to look at it. It is a question of finance versus emotion."

The current season was suspended in March due to the coronavirus pandemic, with the Lions of the North placed eighth on the PSL standings having also reached the 2019 MTN8 final.

Kaftel admitted that his club has been negatively affected by the current lockdown which was imposed to curb the spread of the virus.

“It has had an effect financially, there’s no question about it. The club relies on sponsorship in order to make ends meet," he added.

"All the businesses around the world have been compromised. Businesses have been closed since the month of April."

Highlands Park recently parted ways with Tendai Ndoro, who was reportedly one of their top earners in the team.

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