Tshakhuma Tsha Madzivhandila current owners have responded to the media reports that previous owner Masala Mulaudzi has filed a lawsuit demanding unpaid monies from the sale agreement.
TTM was sold to businessman Abram Sello in January this year for a reported amount of R40 million.
While the R30 million has already been paid to Mulaudzi, it is alleged that Sello still owes R10 million which has prompted Mulaudzi to seek legal action.
Sello has also been given a certain period to pay the outstanding balance or face legal consequences, which might include the cancellation of the sale agreement.
FARPost has it on good authority that there is a meeting between the two parties taking place in Johannesburg on Friday to resolve the matter.
TTM has also released a short statement saying they are consulting their lawyers regarding the matter.
“Tshakhuma Tsha Madzivhandila Football Club (TTM F.C.) has noted with concern the allegations in the media that the club is owing the former owner and chairman of the club Mr Masala Mulaudzi an amount of R10m. The club management is consulting with its lawyers and will only respond to the allegations once the matter has been looked into,” read the statement.
RELATED STORY: TTM Chairman clarifies medals issue
By Ofhani Munyai