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Top Ethiopian club for sale

The owners of Ethiopia's most successful sports club, St. George Sports Club, have announced that they will sell it to fans. The sale comes weeks after prime minister Ably Ahmed broke from decades of Marxist-rooted government policies and approved the privatisation of state owned monopolies.

About 2,300 fans attended a meeting to discuss the sale. St. George, which has won the Ethiopian Premier League title 13 times since 2000, is owned by the St. George Football Association. It has been propped up by prominent businessman Abennet Gabre Meskel and the Saudi billionaire Nohammed Hussein Al Amoudi.

The majority of a new company's shares will be offered to fans. Companies will also be able to buy some shares. Likely buyers include St. George Beer, owned by France's Castel Group, a long-term sponsor.

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