Fortia Limited, an international sports management consortium with global interest in sports development, has bought all the 100 per cent shares in Ashgold SC.
At a press briefing in Accra, vice president of Anglogold Ashanti, West Africa, Mr Christian Rampa Luhembwe, explained that the company wanted to concentrate on its core business of mining, hence their decision to offload shares in the football club.
He said Anglogold Ashanti selected Fortia due to their competence in football management and were deemed the right partners to move the club forward.
Under the terms, however, Anglogold Ashanti will maintain membership on the board of the club, while Obuasi remains the headquarters of the club.
The club can not be relocated and the name can not be changed without prior discussions with Anglogold Ashanti.
Mr Lawrence Nsarko Otoo, the local representative of Fortia, said they recognise Africa as a major backbone in sports across the world, hence their interest in taking over the operations of the club.
He promised to revive the dwindling fortunes of the club and restore its status as the powerhouse it was years ago, as well as ensure its all-conquering form on the African continent.
He observed that the quest of revitalising the club would not be easy but promised the new management would turn the tide in less than 48 months.
He announced major changes would take place in the operations of the club to ensure that it moved in tandem with modern managerial practices.
Story by Peter Sarbah