Cape Town - Maccabi FC have sold their National First Division (NFD) status to former Absa Premiership giants Moroka Swallows.
According to the KickOff website, Maccabi owner Norman Allan accepted a bid around R8 million for the club.
Maccabi FC will now be renamed Moroka Swallows.
"Yes it's true I have sold the club," Allan confirmed.
"The PSL and the new owners will make an announcement."
Swallows previously competed in the ABC Motsepe League, but having acquired First Division status, the Dube Birds will participate in the newly renamed GladAfrica Championship.
Managing director at Bahwiti Investments, David Mogashoa, who reportedly made the R8m bid said: "We will only make an announcement this afternoon."
Back-to-back relegations saw Swallows drop out of the Absa Premiership in 2014/15 season and in the following season they failed to survive the NFD cut and were relegated to the second division.
Since then, several attempts have been made to return Swallows back to top-flight football.
In 2016 the club was close to securing Free State Stars' Premiership status.
A consortium in charge of the club revealed that Swallows were looking to buy their way back into Premiership after settling their massive debts.
However, at the time Premier Soccer League chairperson Irvin Khoza confirmed that the deal was off the table after a lengthy process.