Sports News of Friday, 18 June 1999

Source: Reuters

Ajax buy into Ghana club

Accra, Ghana - Dutch first division club Ajax FC has taken majority shares in Ghana's premier league side, Obuasi Goldfields FC, under a deal that is expected to see the injection of skills into the side.

Under the agreement made public in Accra on Friday, Ajax will acquire 51 per cent shares while the remaining shares will be owned by the club whose new name is Goldfields Sporting Club.

Sam Jonah, Chief Executive of Ashanti Golfields Company, Ghana's multi- national gold mining company which owned the club, said the company's total investment of 5.1 million dollars represents its shareholding in the joint ownership. Ajax is to invest 5.3 million dollars in the club. He said the objective of the deal is to pool resources to unearth the reservoir of football talents in Ghana.

Ajax will appoint a Managing Director for the club and three of the five- member supervisory board.

Jonah said football is now big business and underscored the need for corporate sponsorship since individual sponsorship cannot be sustained.

Van Praag, Chairman of Ajax, said they have a track record of time-proven expertise that they will bring in the management of the club.

Frank Kales, Manager of Ajax, said the objective is to develop Goldfields to become the best club in Ghana and Africa.

Goldfields are third in the league table with 27 points, three points behind leaders Hearts. The second round of the league begins on Sunday.