GHAPOHA to Float Shares in 2003 Season

Tema based Ghapoha, the football club owned by the Ghana Ports and Harbours Authority would from 2003 season float shares on the

Ghana Stock Exchange to raise funds for the running of the Club.

In an interview with the GNA sports, Captain Anthony Cudjoe (RTD), chairman of the club said the club is currently looking at several options, to raise funds for the running of the club which is currently being borne by the Port and Harbours Authority to make it self financing.

"For us to achieve this objective we are trying to strengthen the squad which would be the main feature to attract prospective investors to put their money into it, hoping to get some benefits from the investments.

"It is in this vein that we have signed Amui Quaye from Accra Hearts of Oak but our intentions to add Osei Kofi to our recruits failed after we realised we could not pay for the two plays!

Tema based Ghapoha would be the first club to set a definite time toward selling of shares at the stock exchange since the league went professional seven years ago. Captain Cudjoe called on the Ghana Football Association (GFA) to critically take a second look at the international transfer laws governing the selling of players since agents are ripping off local clubs of millions of cedis

that could be ploughed back into the development of the game.

He said Ghapoha has faced similar problems where the players have been retransferred by their foreign clubs with the clubs refusing to pay anything to Ghapoha, thereby depriving them of more revenue that could be used to improve the domestic game.

"A case in mind is that of Kofi Amposah who was transferred from his Greek club to another Greek club and when we requested for our share of the transfer we were told he went on a free transfer and we have no means to verify"

"If things continue like this the local clubs would continue to suffer and it would invariably, rob clubs of funds to develop the game."

On whether they would transfer any player to Europe this season, Captain Cudjoe said they have had request on three players Mensah Pomaney, John Aidoo

and Kwabena Boateng from Polish and South African clubs but we have turned them down for the moment.

" Taking a look at our standing in the League and our long term

objective of selling shares, selling our best material at the moment would be suicidal hence we have decided against selling"

We are currently rebuilding the team for the future and we would be in the market to buy more players to strengthen the squad soon.