The giant mining firm which already has purchased 53-seater Mercedes Benz bus for the club will pay $100,000 each year as part of the financial installment.
The Mauves and Yellows have been tasked with improving their fortunes on the League table this term with five games to spare.
They also ensure constantly bag a top-four finish every season and take part in GoldFields Community affairs programs in the company’s catchment areas.
The ceremony was attended by officials of both parties and a cross section of the media.
Vice President in charge of operation, GoldFields West Africa signed on behalf of his company while Medeama SC owner Moses Armah signed on behalf of the club.
“We thank you and appreciate your kind gesture. We promise to deliver our part of the bargain by fulfilling our obligation to the company,” Armah said.
“But like an Oliver twist, we’ll be asking for more,”
The sponsorship deal will serve as a massive booster ahead of their Premier League game against Tema Youth on Sunday at the Tarkwa and Aboso Park.