With South African business mogul Lawrence Malaudzi under a cloud of controversy after scoring a massive tender with PetroSA, the staggering amount he paid to buy Bidvest Wits in 2020 has reportedly been revealed. Here’s a look!
The story
The Limpopo businessman is no stranger to controversy, as he has made headlines over his financial and political dealings.
However, his name is also echoed in the South African football fraternity due to previous ownership of Tshakhuma Tsha Madzivhandila and Wits.
In 2020, Mulaudzi acquired the status of the now defunct Wits in the South African top-flight. The move would quickly turn into disaster, as just months after the takeover, rumours began to circulate that some players were not being paid by the management, prompting several court cases being filed against the club.
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A few alarm bells went off from the beginning of Mulaudzi’s short tenure in the DStv Premiership (then called ABSA Premiership), as then Wits boss Gavin Hunt was told to find a new job elsewhere and the club was moved to Thohoyandou together with the players, although some reportedly opted to find new clubs in Gauteng instead.
The exact fee that Mulaudzi paid to acquire the Clever Boys remained undisclosed for quite a while, however, a bombshell investigative report by Carte Blanche has revealed the estimated price of the deal.
According to the show, Mulaudzi is reported to have paid a staggering R35 million to buy Wits, a fee that potentially makes the club the most expensive acquisition in PSL history.
Mulaudzi’s time at Wits would last just eight months though, as TTM was sold to Polokwane doctor Dr Abram Sello, who converted the club to Marumo Gallants.
Former TTM chairperson, Masala Mulaudzi would later explain why they decided to relinquish the club less than a year in charge.
Mulaudzi told The Citizen: “The challenges we were facing became too much and it ended up ruining my reputation. Football was only a side business, and we realised that it was becoming too much. Perhaps the football business was in trouble because I gave inexperienced people from home too much responsibility to run a football club. We ended up having financial problems, resulting in me using the little savings I reserved for my family. We decided that since the economic constraints due to Covid-19 are affecting everyone, it will be better to step down.”
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