The sale of Tshakhuma Tsha Madzivhandila to businessman Dr Abram Sello has been ratified by the Premier Soccer League executive committee.
The PSL Exco sat on Thursday to deliberate on the transaction which will see Masala Mulaudzi relinquish power less than eight months since buying the status from Bidvest Wits.
The PSL released a statement confirming the purchase of the TTM status by Protoscape 202 led by Dr Sello from Black Gold Trust.
“The Executive Committee of the League today considered an application submitted by the Black Gold Trust to transfer the club, Tshakhuma Tsha Madzivhandila to a corporation by the name of Protoscape 202 CC.
The application for approval met the requirements of Article 14 of the NSL Handbook, and was consequently approved albeit with conditions.
The conditions imposed by the Executive Committee included that: the contracts of employment of all players are transferred to the Purchaser; disputes that may exist will be dealt with by the corporation; and any awards or rulings handed down must be satisfied by the corporation.
The club will continue to campaign as Tshakhuma Tsha Madzivhandila,” read the full statement by the league.
The club will relocate their headquarters from Louis Trichardt to Polokwane, but still play their home games at Thohoyandou Stadium and Old Peter Mokaba Stadium until the end of the season.
The club will change their name from TTM to Ollesdas FC as of next season. Ollesdas is the name the new owners currently use for their ABC Motsepe League team.
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By Ofhani Munyai