Speaking on Sports Nite on Asempa FM, Dr Frimpong confirmed negotiations with AngloGold Ashanti aimed at transferring ownership to a new management team.

“We have sat down with Anglo Gold Ashanti and have agreed to hand over the team to another management to spearhead the revival of the club. We are currently negotiating and completing all the paperwork for a successful takeover,” he said.

AshantiGold SC was demoted to the Division Two League after being found guilty of match manipulation in their 2020/21 Ghana Premier League Matchday 34 game against Inter Allies at the TNA Park.

Dr. Frimpong, his son, officials and players involved in the game received hefty sanctions from the Ghana FA Disciplinary Committee.

Despite the demotion, Dr Frimpong expressed confidence that AshantiGold would rise again.

“Ashgold is a giant in Ghanaian football, and its decline has been felt across the league,” Dr Frimpong remarked.

“But we are on a mission to restore its greatness, and I urge our supporters to remain patient as we navigate through this transitional phase. With the grace of God and unwavering determination, AshantiGold will rise again.”

The leadership of the Obuasi-based club revealed their engagement with the Ghana Football Association on Monday to reclaim their footballing status.

“Dr. Kwaku Frimpong, President of Ashantigold SC was charged for breaching Article 27(1)(2) of the GFA Code of Ethics 2019; Article 18(1) of the GFA Disciplinary Code, 2019, and Article 34(5)(a)(b) of the GFA Premier League Regulations 2019,” wrote an FA statement.

“That at the end of the 2021/22 Ghana Premier League season, Ashantigold SC shall be demoted to the Division Two League in accordance with Article 6(3)(h) of the GFA Disciplinary Code 2019.

“That a fine of GHc100,000.00 is imposed on Ashantigold SC in accordance with Article 6(1)(c) and Article 6(4) of the GFA Disciplinary Code 2019.”

The action relates to a Ghana Premier League game at the end of the 2020/2021 season when Ashantigold beat Inter Allies by 7-0 at the Obuasi Len Clay Stadium.

An Allies player, Hashmin Musah, scored two own goals in a radio interview that his own goals were scored deliberately to scupper a 5-1 bet that some people had placed on the match.

However, Dr. Frimpong’s son who is the Chief Executive Officer [CEO] of the has also been given a 96-month ban from all related football activities for his involvement in the fixed match.

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• Inter Allies coach, team manager and 13 players banned over match-fixing scandal

• AshantiGold SC demoted to Division Two for match manipulation

“There is a strong evidence of match fixing between Emmanuel Frimpong and Noo Amoah Gogo, an official of Inter Allies”

“That the Chief  Executive Officer of AshantiGold SC Emmanuel Frimpong is bann d form taking prt in any football-related activity for a period of 96 months in accordance with Article 34.5 (d)(I) of the Ghan Premier League Regulations 2019.

“A fine of Ghc 50,000 has been imposed on the Chief Executice Officer of AshantiGold”.

AshantiGold SC were found guilty of match manipulation in their 2020/21 Ghana Premier League Matchday 34 game against Inter Allies FC.

The father and son have also been fined GH₵100,000 and GH₵50,000 respectively.

Both clubs [AshantiGold SC and Inter Allies] have since been demoted to Ghana’s Division Two, the country’s 3rd tier league, and each fined Ghs 100,000.

Players, coaches, and officials of both clubs have been slapped with various bans.