Bidvest Wits squad (Gallo Images)
The biggest open secret in South African football has been made official after Bidvest Wits finally confirmed they have reached an agreement for the sale of their franchise to Tshakhuma Tsha Madzivhandila (TTM).
This was done by virtue of a statement to the press on Thursday morning, although the sale still has to be ratified by the Premier Soccer League (PSL) Executive Committee.
“Bidvest and TTM have reached an agreement for next season subject to PSL Exco approval regarding the sale of Bidvest Wits Football Club,” a club statement read.
“The sale is a result of our shareholders, Bidvest decision to review their sports-related sponsorships and brings to an end a 15-year-long partnership.
“Bidvest Wits Football Club still have nine PSL games remaining this season as well as the Nedbank Cup semi-final and a possible final.
“The club would like to thank their staff, supporters, and all the players for what they’ve achieved over many exciting years.”
Wits chairperson Alan Fainman believes TTM jumped the gun by announcing the sale last week, which resulted in coach Gavin Hunt and the club’s players being under undue pressure.
“Our people are important to us and we will treat them with respect and fairness in these challenging times,” said Fainman, as the statement continued.
“The sale of the club will not affect the players’ contracts in any way. With regards to the sale of the club and the manner in which it was announced to the public, I would like to reiterate that at the time of the announcement, the deal had not yet been signed.
“Pen has now been put to paper between the new purchaser and Bidvest.”
Some of the club’s highest earners have been allowed to negotiate deals with other teams, while Hunt has already been told by TTM that his services will not be retained.
Some of the players in question are Gift Motupa, Thulani Hlatshwayo, Thabang Monare, Haashim Domingo, and Buhle Mkhwanazi.
Wits University, meanwhile, confirmed all their shares in the club had been sold to Bidvest.
“Wits University has not had anything to do with the sale of Bidvest Wits Football Club,” a Wits statement to the press read.
“Wits has sold its shares in the football club to Bidvest, our partner of close to 15 years, the proceeds of which will be invested in the Wits Student Endowment Fund.”
– TEAMtalk media
