Georgian Premier League club FC Merani-91 Tbilisi have been bought out by Olimpi Tbilisi.
Merani, who were seventh in the table, have sold their top-flight status to Olimpi in a bid to offload their debts. "We bought Merani's place because we have decided to set up our own football club. Before that we were just a youth academy,'' Olimpi owner Nikoloz Dolidze said.
Meanwhile, Merani president Anzor Mamaladze insisted he had no choice but to sell. "We had many financial obligations that were paid for by Olimpi, so they will take our place in the championship,'' he said. "We originally agreed to play under the name Merani-Olimpi but they changed their mind and bought our place." Georgia Under-19 coach Koba Zhorzhikashvili has been appointed coach of the new club who will play at Tbilisi's SKA stadium.