Wits University have confirmed that they have sold their shares to Bidvest.
This comes after GladAfrica Championship side Tshakhuma Tsha Madzivhandila (TTM) owner Masala Mulaudzi announced that they have bought their way into the Premier Soccer League (PSL) by purchasing the status of Bidvest Wits.
The University owned 40% of the club while the company Bidvest enjoyed a 60% share, but TTM have since made it public knowledge that they have bought 100% of Bidvest Wits.
“Wits University has not had anything to do with the sale of Bidvest Wits Football Club. Wits has sold its shares in the football club to Bidvest, our partner of close to 15 years,” reads the Wits University statement.
“The proceeds of which will be invested in the Wits Student Fund. Any queries about the football club transaction should be directed to Bidvest.”
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By Tokelo Martin Mokhesi