Soccer Betting News - SA's Leading Soccer Betting Newspaper: PSL approves sale of Celtic's Premiership status to Royal AM

PSL approves sale of Celtic's Premiership status to Royal AM

Royal AM chairman Andile Mpisane

The league's governing body, the Premier Soccer League (PSL) has approved the sale of Bloemfontein Celtic's Premiership status to Royal AM.

This is according to a letter seen by Times LIVE, which was sent to both clubs in question by the PSL.

Celtic's financial struggles have been well documented while Royal AM have been seeking a way to secure a place in the top flight after failing to honour their promotion play-off fixtures.

As such, the two clubs have come to an agreement, which has seemingly been ratified by the governing body.

Times LIVE published an excerpt from the letter sent to both clubs, which read: "The application to approve the transfer of the football club known until now as Bloemfontein Celtic Football Club from the seller to the acquirer, [and the related approvals in respect of a name change (to Royal AM FC) and relocation (to Chatsworth Stadium)] served before the executive committee today.

"The executive committee considered the application and supporting documentation against the requirements of article 14 of the NSL Handbook.

"The transfer has been approved on the basis sought..."