Ashgold’s Kudjoe Fianoo — Africa campaign in danger

Ashgold Africa campaign in danger?

Andy Quao Sports News Jan - 18 - 2016 , 00:41

The Africa campaign of Ashgold appears to be heading for danger in the wake of the failure of Anglogold Ashanti, the main financiers of the club, to strike a partnership with South Africa-based Rangold to revive the dwindling fortunes of the Obuasi Mines.

The decision has left Anglogold in a financial cul de sac with very little resources to spare and the development, according to insiders, has begun hurting Ashgold.

According to reliable sources, the monthly remmittances of the club have suffered a severe cut while the company has remained silent on the Africa Cup campaign even though the club’s Africa budget has long been submitted to the board of directors of the club.

“There appears to be no hope in sight and the troubling part of the whole situation is that the planned upgrading of the Len Clay Stadium to conform with CAF standards ahead of the Champions League campaign is still on the drawing board”, observed the source.

“Worst still, the renewa

Meanwhile, Ashgold have been strugging to renew the contracts of players who have committed themselves to a new contract.

According to insiders, Anglogold had sought the partnership of Rangold to develop new mines as the old mines had become too expensive to operate but the latter pulled out of the deal because of what they described as “lack of social contract with the people of Obuasi,” following the massive retrenchment it carried out two years ago.

And with Anglogold also not interested in investing in new mines and further leaving the struggling mines in dire financial straits, Ashgold campaign appears more remote despite signing two sponsorship deals last year.

Already, they have confirmed their participation in the competition and registered 27 players for it and, therefore, a pull-out at this stage is expected to be met with sanctions and suspension from the competition.