Ajax failed once again to return to the Premiership after falling short of promotion from the GladAfrica Championship last season.
The Urban Warriors were in line for automatic promotion when they held a healthy nine-point lead at the top of the log standings with five games remaining, only to go on and squander that and end second behind Swallows FC on the final day.
This was the second time the Cape outfit missed out on a return to the top-flight after they were relegated back in 2018, over the controversial signing of former Orlando Pirates striker Tendai Ndoro that led to a massive points deduction.
Ajax Amsterdam, who own a 51-percent share in the PSL side, have now decided to end their 21-year partnership which began back in 1999 by selling their stake in the club.
This is believed to have stemmed from club boss Ari Efstathiou's decision to suspend former goalkeeper Hans Vonk, which also saw coach Dutch coach Andries Ulderink resign with immediate effect back in January.
"Cape Town Stars, the South African minority shareholder of Ajax Cape Town has reached an agreement to take control of the franchise," read a statement from Ikamva.
"Cape Town Stars, the 49% shareholder of Ajax Cape Town, is pleased to announce that they have reached an agreement to acquire the 51% share of the GladAfrica Championship franchise from Ajax Amsterdam with effect from 1 October.
"After 21 years of partnership with their Dutch counterparts, Cape Town Stars will be acquiring full control of the South African club.
"Cape Town Stars will shortly be in a position to advise on the way forward with regards to the future of the franchise."