Cash-strapped Premier Soccer League (PSL) club Bloemfontein Celtic has been sold. The new owners are businesswoman Sinki Leshabane and Dr Moeketsi Mosola. However, the PSL is yet to formally approve the deal.

The new owners have declined to comment pending the league’s formal approval of the deal. The situation is so bad that players have refused to honour their training sessions this week. This was due the club’s failure to pay their July salaries.

Outgoing chaiperson Max Tshabalala was unavailable for comment. Tshabalala acquired Celtic ownership from former player and businessman Jimmy Augousti in 2014.

He’s on record as saying the staggering costs of running the club were too much to bear.

The financial situation was compounded when a cellular network company pulled out as Celtics title sponsor.  Meanwhile, die hard Celtic supporters also intended to form a conglomerate to acquire shares in the club.

Plans were in place to set up the trust fund. The ultimate goal of the supporters was to raise R6 million per month.

WATCH BELOW: