Royal AM have confirmed that they are in the process of buying the Premier Soccer League status of Bloemfontein Celtic.
Royal communications manager Sthembiso Hlongwane told TimesLIVE that a few things were to be sorted out before the deal could be concluded.
The deal would still need to be approved by the PSL.
Hlongwane said negotiations were at an advanced stage between Celtic owner Max Tshabalala and Royal's Shauwn Mkhize.
On Saturday, Sport24 revealed that Royal AM's GladAfrica Championship status was sold to Tshakhuma Tsha Madzivhandila (TTM), making way for Mkhize to table an offer Tshabalala.
"Yes, the deal has gone through. We're just finalising all the relevant documents," Hlongwane told TimesLIVE.
"But it's just unfortunate it reached the media before it reached all the relevant stakeholders, including the players particularly. The well-being of the players is very important."
Mkhize, a reality TV star, is hoping to complete the deal ahead of the new DStv Premiership season, which gets underway next weekend.
If the executive committee approves the deal, it will bring an end to Celtic, a club that was founded by Norman Mathobisa and Victor Mahatane in 1969.