Medeama have parted ways with coach Prince Owusu following weeks of intense speculation, GHANAsoccernet.com can confirm.

The club has finally released a statement confirming it has parted company by 'mutual consent', less than a week after his side exited the CAF Confederation Cup group stage.

"Medeama Sporting Club and coach Prince Yaw Owusu have parted ways by mutual consent," a club statement read.

"The club would like to thank Owusu for his immense contribution since he returned to Tarkwa.

"Both management and the coach believe it is in the best interest of both parties to go our separate ways.

"The club wishes to make clear coach Prince Owusu leaves us on good terms and will always remain respected and significant figure at Medeama.

The club confirmed technical director Augustine Evans Adotey will take charge of the team until the end of the season.

"Technical Director Augustine Evans Adotey takes charge of the team and will be assisted by Ben Owu until the end of the season.

The club will take a definite decision on the technical direction at the end of the current campaign."

GHANAsoccernet.com revealed late August that the former Tema Youth trainer was going to quit after he was 'chased' out of the team's training ground by some irate supporters.