TSHAKHUMA TSHA MADZIVHANDILA SOLD

A businessman from Sekhukhune in Limpopo has acquired the the ownership of PSL football club Tshakhuma Tsha Madzivhandila for R40 million. Ditonkana Abram Sello was confirmed as the new owner after buying the club from former owner Lawrence Mulaudzi.

Lawrence Mulaudzi brought the Bidvest Wits status last year for R50 million in controversial deal that saw a lot of people being unhappy at the exchange.

Why did he sell it for R10 million less?

Apparently, he was forced to sell amid trouble in the club where players were constantly going on strike over unpaid salaries. The team hit rock bottom when they were stranded at an airport in Durban last week.

Who is the new owner?

TTM's new owner is Ditonkana Sello, a pharmacist and business man based in Gauteng. Unlike Mr. Mulaudzi, he is no stranger to football. He also owns a football club called Olezar who ply their trade in the ABC Motsepe League.

In documents circulating around, it shows that Lawrence Mulaudzi transferred his powers of being director to Sello last Friday ( I don't know how they kept it a secret from the media all weekend).

The two businessmen are still waiting for the PSL to approve the transaction. We at Loudcast understand that the club will move from the district of Vhembe to their new home in Polokwane. It is apparent that this deal was on the books already late last year (very strange I must say).

PSL CEO Mato Madlala could not be reached for comment.