Ghana Premier League side Wa All Stars, owned by former Football Association president Kwesi Nyantakyi, has been taken over and renamed by a team led by ex-Black Stars defender John Paintsil.
According to footy-Ghana, the club has been rechristened Stallions FC following the takeover.
Ownership of the topflight outfit has been a topic of discussions following the indefinite Fifa suspension of Nyantakyi after he was shown in an investigative documentary engaging in corrupt practices last year.
“My team of investors and I are now the new owners of Stallions FC previously called Wa All Stars,” a statement reportedly signed by Paintsil reads.
“This name was changed by special resolution with the approval of the registry of companies on 28th February 2018.
“It was incorporated under the Companies Act 1963 (Article 179) as a company limited by guarantee."
Rumours about a new owner of the club first emerged in January.
The club, however, wasted no time in releasing a statement to deny any such transaction with the Paintsil-led team.
The changeover has resulted in All Stars' delay in confirming their participation in the upcoming GFA Normalisation Committee Special Competition which kicks off on Saturday.
The Northern Blues' biggest achievement remains winning the Ghana Premier League in 2016.