5 PSL club owners who are now broke

South African PSL Club Owners Who Went Broke

Owning a football club in the South African Premier Soccer League (PSL) may seem glamorous, but the reality is that it requires significant financial resources. Many club owners have struggled to sustain their teams, with some facing severe financial ruin. Rising operational costs, unpaid player wages, and lack of sponsorships have led to financial collapse for several PSL owners. Here’s a look at some of the PSL club owners who went broke.

1. Max Tshabalala – Bloemfontein Celtic
Max Tshabalala’s financial downfall is one of the most notable in South African football. Bloemfontein Celtic was one of the most loved clubs in the PSL, known for its passionate fan base. However, Tshabalala struggled to keep the club financially stable due to accumulating debts and unpaid salaries. Unable to sustain operations, he was forced to sell the club’s PSL status to Tshakhuma Tsha Madzivhandila (TTM) in 2021, marking the end of an era for Celtic fans.

2. Leon Prins – Highlands Park
Highlands Park had a rich history in South African football, but financial struggles under owner Leon Prins forced the club into a difficult situation. Despite a brief resurgence in the PSL, the financial burden proved too much. In 2020, Prins had no choice but to sell the club’s PSL status to Tim Sukazi’s TS Galaxy FC. This move signaled the end of Highlands Park’s PSL journey, highlighting the financial instability that plagues many club owners.

3. Jomo Sono – Jomo Cosmos
Jomo Sono, a South African football icon, has owned Jomo Cosmos for decades. However, his club has been in a downward spiral financially for years. With limited sponsorships and declining revenue, Sono struggled to keep the team competitive. Jomo Cosmos was eventually relegated from the professional leagues, and Sono has battled to revive the club ever since. His financial troubles have raised questions about whether he can continue funding the team or if he should seek new investors.

4. David Thidiela – Black Leopards
David Thidiela, the owner of Black Leopards, has faced severe financial struggles in recent years. Despite Leopards’ ability to move between the PSL and the lower divisions, financial instability has been a recurring issue. Reports of unpaid player salaries and operational challenges have haunted the club, making it difficult for Thidiela to sustain it. The team has struggled to stay afloat, reflecting the financial difficulties of running a PSL club without strong sponsorship backing.

5. Shauwn Mkhize – Royal AM
Shauwn Mkhize, popularly known as “MaMkhize,” entered South African football with a big splash when she bought Real Kings FC and rebranded it as Royal AM. Despite her high-profile lifestyle and business ventures, the club has faced financial turbulence. Royal AM has been embroiled in legal battles, allegations of unpaid salaries, and a FIFA-imposed transfer ban due to outstanding debts. These financial difficulties have led to speculation about whether Mkhize can continue funding the club in the long run.

Conclusion
The financial downfall of these PSL club owners highlights the harsh realities of running a football team in South Africa. Without consistent sponsorships, strong financial management, and sustainable revenue streams, many owners have struggled to keep their clubs afloat. The fate of these teams serves as a warning to potential investors, emphasizing the need for financial stability to survive in the competitive world of football.