AmaZulu FC set to announce Sandile Zungu of ZICO as new owner - sources

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AmaZulu FC look set to announce a new owner of the club to help alleviate their financial troubles, according to the latest indications.

snl24.com/kickoff has gathered that Usuthu, who have been facing financial challenges this year, have found a solution to save the club in the form of well-established entrepreneur Sandile Zungu.

Durban-born Zungu is the chairman of Zungu Investment Company (ZICO) and also the president of the Black Business Council (BBC).

Usuthu have been dealing with financial challenges for a while now as a result of signing expensive players and firing coaches who did not come cheap, according to sources close to the club.

These financial woes forced the club to implement salary cuts during the first month of South Africa's hard lockdown to become the first PSL team to do so.

"The club has been facing challenges, especially financial issues which resulted in salary cuts but now it seems like they've got a solution to save the club," one source tells this website.

Another source claims Zungu has bought the club: "AmaZulu has been sold after weeks of negotiations, he's the new owner and apparently he's got big plans for the club."

Usuthu officials preferred not to comment. Club chairman Patrick Sokhela is set to hold a press conference with Zungu in Durban today, where the official details will be announced.

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