Bidvest Wits, the 2016/17 Premier Soccer League (PSL) champions, have sold their top-flight status, according to new owners Tshakhuma Tsha Madzivhandila Football Club.
Wits were due to celebrate their 100th anniversary next season having been founded in 1921, but instead, will cease to exist.
"It is official. Tshakhuma Tsha Madzivhandila Football Club has completed the sale of Bidvest Wits with all its players," the club posted on its official Twitter page late on Saturday.
TTM FC are based in the Limpopo province and previously purchased their current GladAfrica Championship - the second tier of football in South Africa - status from Milano United FC in July 2017.
TTM-FC went on to confirm that they have lodged a request with the PSL for an official name change, suggesting from next season Bidvest Wits will be known as Tshakhuma Tsha Madzivhandila FC. The team is expected to call the Thohoyandou Stadium home in the 2020/21 campaign.
TTM chairperson Lawrence Mulaudzi is reported to have confirmed the sale which includes all of Wits' current squad.
However, a number of star Students players have in recent weeks been linked with moves to other clubs, including captain Thulani Hlatshwayo, Deon Hotto and Thabang Monare. It therefore remains to be seen which players will still be with the club for next season under the new owners.
The deal will still need to be ratified by the PSL Executive Committee before it is officially completed.
Should the deal get the green light - and depending on this season's relegation - Limpopo could have as many as four PSL teams next season with Baroka FC, Polokwane City and Black Leopards already based in the province.
Wits are currently in sixth place in the 16-strong PSL log with nine matches to play in the 2019/20 season, while TTM FC find themselves in fourth place in the GladAfrica Championship with six matches remaining.
- Compiled by Garrin Lambley
We have logged with the PSL for an official name change— TTM-FC Official Page (@TTM_Original) June 13, 2020
The name will change from Bidvest Wits to Tshakhuma Tsha Madzivhandila FC as of the beginning of the new season
The team will play at Thohoyandou Stadium as their home ground next season pic.twitter.com/4r9y3j0Yq8