Masters Security Group of Companies has completed the buying of ownership rights of the Super League promoted side Baka City.
This follows the conclusion of discussions between the two parties this week.
Masters Security Group of Companies acting Chief Executive Officer Christopher Njeula and Baka City Chairperson Bentry Jembe, while confirming reports of discussions, kept a tight lid on the actual sale fee.
Njeula said, in principle, the acquisition of Baka City was completed, with both parties satisfied with the framework.
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He said official communication was further submitted to the Football Association of Malawi, notifying the mother body of the sale of the club.
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The information relates to the intentions of the purchaser and subsequent change of name.
“What remains are technical guidance and realignment from Fam, in line with their statutes and legal instruments regarding such trade.
“Otherwise, we, as new owners, are optimistic that Fam will expedite the process to allow ourselves to prepare thoroughly for the season ahead,” Njeula said.
On his part, Jembe confirmed selling the club to Masters Security, saying the deal was finalised last week.
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“I can comfortably confirm that we sold the club to Masters last week. Both parties were satisfied and are waiting for next week to do the handovers,” Lembe said.
Fam Club Licensing Manager Clement Kafwafwa has confirmed receipt of the documents from Baka and Masters.
“We have the documents and are working on them,” Kafwafwa said.
Baka have earned Super League promotion after finishing second in the NBS Bank National Division League (NDL) with 41 points from 22 matches.
Masters were disbanded in 2020.
Prior to that, they won the 2018 Carlsberg Cup following a 5-4 victory over Mighty Wanderers on post-match penalties at Kamuzu Stadium in Blantyre.
The match had ended one-all in regulation time.
