Ethiopia: MIDROC injects new funds into Saint George to aid revival

Record Ethiopian champions Saint George have received a huge additional financial backing from MIDROC Investment Group following a season hampered by administrative crises. The club has confirmed the financial backing will be used to strengthen the squad.

MIDROC Investment Group has given $168,460 USD (26 million Ethiopian Birr) to the club on top of the 50 million Birr they handed to the club a month ago. The Horsemen stated that the funds received from MIDROC will be used to settle payments for former foreign players and sign new players. The funds will support the club in getting through their ongoing FIFA transfer ban.

 

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Gratitude was extended from the Addis Ababa giants to MIDROC Investment Group CEO Jemal Ahmed for the additional support. Ahmed is a die-hard supporter and had criticized the former club’s leadership helmed by Abinet Gebremeskel after a rift broke out between the chairman and MIDROC owner Mohamed Hussien Ali Al-Amoudi.

Ahmed previously stated that MIDROC would only support the club if the Gebremeskel-led board agreed to step down. Gebremeskel resigned from his post a few months ago as MIDROC commenced financial support.

Since financial help was rendered to the giants from the capital, the club has not lost any league games. The Horsemen have won three games and drawn one as they successfully got out of the relegation zone to sit 10th with 35 points. They will lock horns against cross-city rivals Ethiopian Coffee on Sunday, April 26, in Addis Ababa in a rescheduled Ethiopian Premier League fixture.