 MEDIA STATEMENT FROM IZINGWE HOLDINGS, OWNERS OF BAY UNITED FOOTBALL CLUB
Izingwe Holdings regrets to announce that Bay United Football Club will immediately cease conducting business while beginning an extensive process that may lead to the sale of the club.
A number of negative events have led to this regrettable state of affairs, among them:
• the club’s unsuccessful attempt to gain promotion to the Premier Soccer League (PSL);
• the PSL’s imposition of a R1.3 million liability following the club’s retrenchment of players at the end of the 2008/2009 season and
• unsuccessful attempts to get financial and other forms of sponsorship assistance from the Nelson Mandela Bay Municipality, the Eastern Cape Provincial Government and commercial sponsors.
“We will engage with all the creditors of the club, including the players”, said Izingwe chairman Sipho Pityana, “no final decision will be taken until discussions have been held with all relevant parties”.
Pityana added: “We undertake to do our best to resolve this matter in the best interests of all parties.”
For more information, contact Mr Sipho Pityana (011) 726 1112 / 083 379 2559. | 
