According to multiple reports in the media, Chief Executive Officer of Zylofon Media, Nana Appiah Mensah has purchased Kumasi based Rainbow FC.
Rainbow FC booked qualification to the Second Division after defeating Shooting Stars 1-0 in Ashanti region Division two middle league.
"The club [Rainbow FC] has been acquired by Mr Appiah Mensah of Zylofon Media. He bought it a few weeks ago and we will be moving to Accra this morning (Monday)," a close source said.
"It was sold to the young entrepreneur following the demise of the founder of the club, Nana Acheampong who passed on last year after our promotion to the Division One League,"
It also believed that the name of the club will be changed to Stars Madrid FC and the entire technical team will be relocated to Accra.
Nana Appiah is the CEO of Menzgold Ghana Co. Limited, Brew Marketing Consult Co. Limited, Menzgold Espana S.L, T.I.A. Holdings (USA), Brew Energy Company Limited, Brew Realty Company Limited, Cheetah Security Co. Limited and Zylofon Media Company Limited.
He also owns Zylofon FM and Zylofon TV in Accra and also signed some well known Ghanaian musicians on his record label and they include Stonebowy, Becca, Kumi Guitar, and Joyce Blessing among others.
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