Medeama Board Chairman Dr Tony Aubyn has ruled out the sale of the club, insisting it will continue to compete in the Ghanaian top-flight.
Dr Aubyn, who is the Chief Executive of the Minerals Commission in Ghana, has reiterated the club's resolve to stay in the top-flight despite threat of sale by the club owner Moses Armah.
The club's owner revealed on Sunday that the club is up for sale because he is 'demotivated' to continue running in the Ghana Premier League.
The Yellow and Mauves have emerged as a huge force in the West African nation having won the FA Cup twice and represented the country in the CAF Confederation on two occasions.
The club has become a cult in the Western region and continue to enjoy the goodwill of several local fans.
He was particularly peeved that his midfield maestro Kwesi Donsu was overlooked by Black Stars coach Avram Grant for last week's 2018 World Cup qualifier against Uganda - insisting there is no fairness in the call-up of players into the national team.
But hugely respected Medeama Board Chairman Dr Tony Aubyn has moved to calm down waters, insisting the Tarkwa-based side won't be sold.
"You should understand him (Moses Armah). He has virtually run this club from his pocket and you can understand that it's not been easy," he said
"We have had discussions and I can tell you that the club will not be sold.
"Medeama is now a traditional club which serves the people of Tarkwa, Nzema, Wassa and the whole of the Western region.
"And so this club will simply not go down. We are looking at other ways of ensuring we stay afloat and challenge for more laurels.
He added: " We could have won the league title this year. But I want to assure our supporters that Medeama will not be sold. It will remain and continue to challenge for huge honours."
Tarkwa has been thrown into a state of shock and despair after Medeama owner Moses Armah declared his intention to sell the club.
By Patrick Akoto