Tshakhuma Tsha Madzivhandila Football Club says it has bought the PSL top-flight status of Bidvest Wits, according to an announcement from the Limpopo-based club.
Wits were due to celebrate their 100th anniversary next season, having been founded in 1921, but instead will cease to exist.
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 that 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, although the deal will still need to be ratified by the PSL Executive Committee before it is officially completed.