One of Sierra Leone’s renowned premier league club Old Edwardians have communicated that their club is up for privatization. The decision was reached at a meeting held on December 26th, 2021, at the club training center at Kingtom.
The statements from the premier league side were released on December 27th, 2021. Reading: “as part of their centenary celebration reform Old Edwardians as the majority shareholders, while a substantial part of the club will be owned by former pupils of the school and the general public”.
Speaking to this medium about the decision, the Executive Chairman of Old Edwardian Emmanuel Saffa Abdulai Esq said that privatization is the way to sustained funding, and football is now business. He said their first choice is former pupils of the school and others can also buy shares.
The former premier league board chairman disclosed that valuation for the club is ongoing and individual costs to purchase shares will be decided soon and communicated to the public.
The statement further disclosed that there are plans to move the club from a not-for-profit company limited by shares.
Lawyer Saffa Abdulai who has served the Old Edwardian football club for over a decade said privatization brings new energy, and private investment that will focus on profit-making and create the highest standards is their approach for the club.
This new system will create opportunities for the school football club and start operating as a business entity with the aim of profiting making.
“With new capital investment and structures to recoup the investment, it will make the Old Edwardian football club great”. Said lawyer Saffa
Old Edwardians FC finished the first phase of the Sierra Premier league in the 13 positions out of 17 matches played.