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SowetanLive reports that Bloemfontein Celtic have become the first Premier Soccer League club to concede that it might have to ask its players to accept salary cuts as a direct result of the coronavirus crisis.
Celtic owner Max Tshabalala has revealed that his already financially distressed club might not be able to afford to pay full salaries at the end of this month. Tshabalala, a Mangaung businessman who two years ago put the club up for sale as he accepted it was too costly to run, said his cash reserves were now fast depleting due to Covid-19. He relies heavily on his property business (Ikaheng Projects) and the monthly PSL grant of R2.5m to fund Phunya Sele Sele. Celtic's financial woes in recent years have been reported widely in the media as well as Tshabalala's struggles to pay salaries, which in 2018 led to protests by fans and a strike by players and technical staff. The Celtic boss, however, said everything would be decided during a meeting with the players if the situation worsened. Club chief executive Khumbulani Konco confirmed that all players had received their salaries: "We have been paying the players this year. Since the [beginning of] season everybody has been paid.”
- Read the full original of the report in the above regard by Neville Khoza at SowetanLive
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