PSL approves sale of Tshakhuma FC to pharmaceuticals businessman
The Premier Soccer League (PSL) has approved the sale of Tshakhuma Tsha Madzivhandila TTM to a company called “Protoscape 202 CC”‚ the league said in a statement on Thursday.
The sale of the club comes just seven months after TTM owner Lawrence Mulaudzi bought the Premier Division franchise of 99-year-old Bidvest Wits eight months ago‚ a deal that came to light in late May and was confirmed by the PSL in July.
TTM have had a nightmare start in the 2020-21 DStv Premiership and are in last place having been plagued by bad press over alleged unpaid players and player strikes.
The new owner is reported to be pharmaceuticals businessman Abram Sello‚ though his ties to Protoscape 202 are unclear.
The PSL said in a statement on Thursday evening: “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.”
TTM‚ previously a GladAfrica Championship (first division) team‚ have started the 2020-21 top-flight season with one victory‚ six draws and six defeats from 13 Premiership matches.