No doubt there are challenges in football administration across the globe, but of the many problems that have besieged the game, especially in the case of local club football in Ghana, financing in my opinion comes across as the thorniest of them all. Money, (Cash), and its equivalent by way of sporting facilities and other assets, have become a bane of most local football clubs, and the traditional sides sadly so are caught up in this, but surprisingly, the “manufactured” or individually run clubs seem to be making greater strides in the area of raising funds and securing physical infrastructural assets by way of training pitches and club houses. A typical case in point being Dansoman-based Liberty Professionals who can boast of a playing field, the Carl Reindorf Park, and a well furnished and state-of-the-art club house, all of this within the relatively short period they have been playing top flight football. Another such club side is Kumasi based, Kessben FC/Medeamma FC, who also can boast of the Anane Boateng Stadium. The only traditional club side with a standard pitch is Obuasi-based Ashantigold Sporting Club, whose Len Clay Sports Stadium has been the venue of even some national and continental football competitions. Indeed, when the Accra and Baba Yara stadiums were closed down for upgrading for the 2008 African Cup of Nations here in Ghana, Hearts and Kotoko made use of the Len Clay Sports stadium which at the time was the only standard pitch as per the Confederation of African Football (CAF), specifications. As for the two biggest sides, Hearts of Oak and Kotoko, several managements committees and boards past and present have only succeeded in leaving fans expectant of what was never to be. Clubs are entities that are supposed to be run on money, various clubs have ways through which they raise funds to administer their day-to-day operations. Key amongst sources of club financing is the league sponsorship money, gate proceeds, sale of players or transfer fees, sale of club paraphernalia and the benevolence of ardent followers – the last two sources largely possible in the case of Hearts and Kotoko. The benevolence though usually comes at a price - when some of these supporters who contribute financially to a club, find their way onto boards of their respective clubs - Perhaps the reason for which a club as Hearts has 24 board members. Hearts of Oak as an entity has decided however to explore a club financing style prevalent elsewhere but alien to Ghana football. Floatation of shares on the Stock Exchange, which simply means that the Phobian family is turning to the public – presumably its loyal fans - to raise much needed funding to effectively run affairs of the 99 year old outfit. By this Hearts are looking to break the financial dependency syndrome that has seen most local clubs saddled with gaping debts. Simply, the team has set out to harness, by so doing translate their commercial successes into successes on the field. With the floatation of shares, the club will have to maintain an open accounts book, thereby making the club more financially disciplined and transparent comparative to instances when handlers of the club’s administration report to a board. The club I guess should know too well that successful floatation comes with using monies accrued to establish academy, (youth systems), build their own stadium, club house, training pitches – grass and synthetic. What the judicious use of floated shares does is, it would raise the share value of Hearts of Oak as an entity and precipitate a situation whereby corporate entities would like to associate with a club that undoubtedly commands a huge fan-base in Ghana. The club will also have to sign very quality and competitive players, who would be capable of winning beyond Ghana and Africa, because after success in African club competition, the club will also have to play in FIFA’s world club championships, players perhaps from Africa and overseas. The big question though is, between the successes of 2000 – when Hearts earned the title, “masters” and 2010, most club officials, past and present, are not willing to discuss what has transpired by way of management or mismanagement. Suffice it to reiterate that, it is an open secret that participation in African competition is almost a lose-lose situation especially when clubs invest as much as $5 million but earn $1.5 million for winning the competition, and perhaps $5 million of prestige and honour. (as per the figures quoted by current African champions, TP Mazembe). The four main reasons for which most European clubs have been successful by way of raising funds via share floatation are; a rich heritage, large fan base, successes and strong brand name, all of which Accra Hearts of Oak has had and currently has. The likes of Manchester United, Barcelona, Real Madrid, Arsenal, Chelsea and several other European sides operate football corporations with the game at the centre of a marketing and leisure empire. The most important aspect of the floatation will also be hinged onto the need for rank and file of the club to patronize the exercise. A visit to club websites of top European clubs is an experience in itself. Apart from the availability and minute-by-minute update of information, a visitor to the site is left to wonder at the financial transactions that these clubs transact even on the web, sale of club memorabilia, sale of match tickets, club publications and autographed paraphernalia in some instances sale of club insurance policy and other financial services. In the case of Hearts of Oak, this simply is an opportunity for supporters to owe a part of their club. But yet again, the club must also be wary of the floatation which could result years to come in take-over of clubs after a share holder acquires a large number of shares, a case in point being the Man United-Malcolm Glaizer affair. With respect to successes on the field, the club that celebrates their centenary anniversary next year have won one African Champions League title in 2000, twice finishing as runners-up in 1977 and 1979, they were winners of the maiden Confederation Cup in 2004, annexed 21 local league titles – one short of that of sworn rivals, Asante Kotoko, one Confederation of African Football (CAF) Super Cup in 2001. 9 FA cups, 7 Sports Writers Association of Ghana, (SWAG) cups, 4 gala competitions and 3 TOP 4 trophies. MTN, headline sponsors of Hearts are also reported to have agreed to sponsor the public relations campaign that accompanies the share floatation. This move undoubtedly is a giant step in the right direction and one worthy of emulation by other traditional sides. The basis on which contemporary football thrives globally, is a sound financial backbone. So Hearts of Oak takes the lead in this respect and we can only wait for more of such initiatives. GHANA FOOTBALL the eventual winner. Phooobia! Masters! Credit: Shaban Barani Alpha & Shaban Rayhann E-mail: newcguide@gmail.com