Maccabi FC boss Norman Allan has confirmed that he has sold the club's status to Moroka Swallows.
According to information gathered by KickOff.com, businessman David Mogashoa is behind a reported R8-million deal and the team will be renamed Moroka Swallows.
Mogashoa is the managing director at Bahwiti Investments, which specialises in the manufacturing of bricks, security services and cleaning services.
This means Swallows will compete in the National First Division, but it remains to be seen whether Maccabi will drop down to the ABC Motsepe League.
The PSL and the new club owners are expected to make an announcement later today after meeting with the board of governors in Johannesburg.
"Yes it's true I have sold the club," Allan confirms. "The PSL and the new owners will make an announcement."
Mogashoa preferred not to give out much information, adding: "We will only make an announcement this afternoon."
The Dude Birds were relegated from the top flight four years ago and various attempts have been made to get Swallows back in the PSL.
Panyaza Lesufi's consortium was the last to fail after attempting to buy Free State Stars, but the Gauteng MEC is still involved in the re-emergence of the 'new Swallows'.