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Ajax announces sale of 51% stake in Ashanti Goldfields

16 February: Ajax has sold its 51% majority's stake in its "satellite club" Ashanti Goldfields Sporting Club Ltd. However, Ajax and the club from Ghana will continue to co-operate on a technical level. The Amsterdammers have not revealed the financial details of the transaction.

Buyer of the stock is Ashanti Goldfields Company Ltd., the company that already owned the remaining 49% of the stock. Ashanti Goldfields SC is now completely possessed by its original mother company.

Ajax took a 51% stake in the African club on 01 July 1999, with the intention to create a professional scouting system in Ghana. Similar "satellite clubs" were acquired in South-Africa (Ajax Cape Town) and Belgium (Germinal Beerschot Antwerp). Two more co-operation agreements were signed, with Mexican side Chivas Guadalajara as well as Dutch First Division team FC Haarlem.

In December of 2002, Ajax confirmed what the Dutch media were already suggesting for several months: the three international satellite clubs had not brought Ajax what the club was hoping for. At Ajax's General Meeting of Shareholders general director Arie van Eijden announced that Ajax had terminated its financial participation in its three foreign brands and that the club was attempting to sell its stock.

Initially, it seemed like the 72.5% stake in Belgian side Germinal Beerschot Antwerp was going to be sold first, as talks with Flemish business man and chairman of Lokeren football club, Roger Lambrecht, seemed to be succesful. However, Lambrecht unexpectedly withdrew.

With 'GBA', too, Ajax wishes to continue the co-operation wth 'GBA' on a non-financial, strictly technical basis. For now, Ajax does reportedly not intend to sell its South-African brand, Ajax Cape Town.

Ajax underscores that the sale of Ashanti Goldfields will not have a negative effect on the results for the 2002-2003 season, as the devaluation of the stock was already included in last season's figures. (MP)

(Source: Ajax.nl)