Global Media Alliance agree to offload shares in Sekondi Eleven Wise

Division One side, Sekondi Eleven Wise is to re-purchase its majority shares from Global Media Alliance (GMA) after the latter had amicably agreed to off load its shares in the Club.

This was contained in a letter signed by Magnus Rex Danquah, spokesperson on Football Matters on behalf of Nana Kobina Nketia V, Life Patron of the Club who is also the Omahene of Essikado Traditional Area copied to GMA and made available to the GNA Sports in Accra.

According to the letter, the ‘Essikado Community’ has agreed to the proposed re-sale of the shares to the owners of the Club by GMA.

In view of the latest development, Wise has thus formed an Interim Management Committee (IMC) led by Magnus Rex Danquah to discuss and negotiate the exit plan, whilst GMA will be represented by Kwame Acheampong Boateng and Kurt Okuraku.

The two bodies have been charged with the responsibility of determining the terms and conditions of the purchase of the shares, undertake due diligence of all exit plan, including forensic audit of all accounts required to ascertain the true affairs of the Club between 2006 – 2010.

The IMC will also manage the transition of assets and liabilities, the immediate registration of players for the Division One League (DOL), prepare the Club for the League and other assignments outlined by the Life Patron.

Meanwhile, the IMC of Wise has called on the GMA to grant them the needed cooperation in the discharge of their duties, whilst negotiations are concluded.

The GMA earlier in October wrote to Sekondi Eleven Wise to re-negotiate their interest in the Club, but decided to pull out of the deal due to some terms spelt out by Wise.

Source: GNA