Patron of Kumasi Asante Kotoko Sporting Club, Otumfuo Osei Tutu II says the Club is facing a debt of GH¢ 3m.
This disclosure was made after a meeting with the clubs executives and national circles council.
According to Otumfuo,” in consideration with the board and former CEO’s report,Kotoko has 3,533,424 Gh cedis debt to clear in the form of ,players salary,player transfer fee,travel expenses, accomodation fees,loans as well as other staff arears.
Due to Asante Kotoko’s financial predicament, it will need about GHS5 million to pay off these obligations and make it easier to sign new players for the following season.
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The team is in a difficult situation as they get ready for the forthcoming football season due to the financial pressure.
The creditor owes the former Chief Executive Officer Nana Yaw Amponsah, unpaid wages in addition to other overdue debts.
The hierarchy of the club is looking forward to set up a new board after the dissolving the previous board weeks ago in order to manage the affairs of the club ahead of the next football season.
