The off, on, off deal to sell Tshakhuma Tsha Madzivhandila FC is on again.
News emerging from Limpopo is that local businessmen Abram Sello and Mighty Tjale have agreed with TTM owner Lawrence Mulaudzi to acquire the status of the DStv Premiership club.
Correspondence between the two indicates the buyers have agreed to pay a hefty R40m to purchase the embattled club.
Mulaudzi forked out R50 million to buy the status of Bidvest Wits last year and relocated the club from Braamfontein to Thohoyandou.
But financial constraints have seen the club move from a healthy financial status to near bankruptcy within months.
Players have constantly boycotted games over unpaid salaries, resulting in a string of losses for the team.
The documents reveal Mulaudzi has already transferred the directorship of the club to Sello after the latter transferred an amount of R30m to the seller.
A balance of R10m is to be paid before the end of the current season.
However, the deal is subject to the PSL’s approval and Mulaudzi will be meeting the League’s executive regarding the transaction.
The club will relocate from Venda to Polokwane.
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