Liberty Professionals have refuted media reports suggesting the change in ownership of the club following their recent strategy to rebuild.
Having suffered relegation three seasons ago, the club have failed to regain their top-flight status with Kotoku Royals and Kpando Hearts of Lions emerging victorious in Zone Three in the last two seasons.
However, the club has now shifted their attention to investing more in grassroots football with the aim of producing numerous talents which were their trademark many years ago.
"We write to inform the general public and our fans that the club has not been sold as has been reported in sections of the media. It is still in existence under the ownership of its remaining founder Mr. Felix Ansong.
"The club has rather divested its slot to compete in the Division One league. The club will still compete within the Ghana Football Association pyramid.
"Started originally as an academy, the club will seek to re-establish its reputation as a world-class developer of Ghanaian football talent.
"Further details of the new direction of the club which has seen its owner invest significant resources in the redevelopment of existing infrastructure like player accommodation, additional training pitches, talent recruitment, and technical direction will be made public soon.
"This direction will be under the guidance of noted talent trainer John Oppong Welbeck who has been at post for the past two months.
"We urge our passionate fan base and our community to continue to support us as they have always done as we aim to become a resilient contributor to our community," an official statement read.
Liberty Professionals boast of producing top Ghanaian stars like Michael Essien, Asamoah Gyan, Sulley Muntari and many more.