Nchanga Rangers Football Club has taken over Circuit City Football Club in a footballing transaction.
The transaction has culminated in the Brave Rangers assuming Circuit City’s rights, assets and some of its liabilities, including fulfilling of obligations.
The move has been communicated to the Football Association of Zambia (FAZ).
The mutual agreement reached on September 20, 2019 led to the signing of a contract between the two parties for an agreed price to facilitate Circuit City’s voluntary absorption into Nchanga Rangers.
Circuit City players and coaching staff will either be absorbed into Nchanga Rangers or paid-off under the terms of the Sale Agreement.
Nchanga Rangers will automatically assume Circuit City’s obligations with regard to fulfillment of fixtures in the FAZ National League after acquiring all rights to the Circuit City name and seeking clearance from FAZ.
Nchanga Rangers will retain its name and continue to play its home games at the Nchanga Stadium in Chingola.
Nchanga Rangers will in the coming days engage with the FAZ to initiate steps that will facilitate its participation in the National League.
The position, which was held by the Brave Rangers in the Division One Provincial League will be taken up by Young Nchanga Rangers FC, the club’s developmental team.
The agreement to acquire Circuit City has the full backing of the Provisional Liquidator of Konkola Copper Mines (KCM), Mr Milingo Lungu, and the company’s management, who have thrown their weight behind the club to ensure it returns to its glory days.
Nchanga Rangers president Patson Nyirenda said he is glad that the two parties reached an amicable agreement over the acquisition.
Mr Nyirenda said this is an important step towards KCM’s solid plans to ensure Nchanga Rangers returns to compete in the Super league.