The Betway Premiership club were suspended in January over a non-payment of salaries and unpaid tax debts exceeding R40 million.
Under the South African Revenue Service's curatorship the club went under the hammer, with Durban businessman Roy Moodley submtting the winning bid.
But the deal between SARS and Global Investments was never finalised, with SARS curator Jaco Venter providing an update on the status of Royal AM to the media.
He wrote: "The purpose of this communication is to notify interested parties of the outcome concerning the intended sale or auction of the Royal AM Football Club.
"After having received offers for the purchase of the Royal AM Football Club, the curator bonis, on 19 March 2025, notified the representatives of Global Investments that they were the successful offeror or purchaser of the club.
"In terms of clause 12 of the invitation to submit offers referred to above, the Successful Offeror was required to within a period 3 (three) days ("Payment Period") of being advised by the curator bonis in writing that he, she or it is the Successful Offeror, pay the accepted offer amount [minus the deposit amount] ["Purchase Price"] into the trust account of VZLR Inc.
"Notwithstanding numerous demands to the representative(s) of Global Investments to comply with its obligations in accordance with inter alia the sale agreement, as at 10h00 today, it / they had failed to effect payment of the Purchase Price into the trust account of the curator bonis' legal representatives.
"As a result of aforesaid failure to make payment as required, the curator bonis was left with no other option but to cancel the agreement with Global Investments, which election was communicated at approximately 10h30 today to the Offeror's representatives."
Royal AM's turbulent run in South African top-flight football has come to a dramatic end, as the Premier Soccer League's (PSL) Board of Governors (BoG) has voted to expel the club following months of uncertainty.
The Premier Soccer League is expected to bring the long-running Royal AM saga to a close following a crucial board of governors meeting in Johannesburg on Thursday.
Shauwn Mkhize, the owner of Royal AM, is said to be preparing to appeal the PSL's decision to terminate the club's membership.
Politician David Skosana has revealed that his consortium was unsuccessful in a bid to buy beleaguered Betway Premiership side Royal AM.
