Kotoko in desperate need of more than GH¢5 million for fresh start - Otumfuo

The life patron of Asante Kotoko, Otumfuo Osei Tutu II has revealed the club's financial situation stating the need to raise a whopping amount of GHC5 million or more to steer the affairs of the club ahead of the upcoming season.

This was disclosed at a meeting held at Manhyia Palace on Friday where the club's legends and members of the supporters' leadership met the Asantehene to deliberate on the way forward of the club.

The meeting followed the dissolution of the executive board as well as the management team who had exhausted their three-year mandate.

The club had an outstanding debt of more than GHC3 million, according to a report presented by the dissolved board and management, which needed to be cleared immediately.

The debt comprises outstanding salary arrears owed to players as well as unpaid salary owed to the former Chief Executive Officer, Nana Yaw Amponsah among other financial obligations.

As a result, he indicated that GHC5 million was required to settle these debts and permit the recruitment of new players for the forthcoming season.

He emphasised the need to clear all these debts before a new board and management are established to avoid any transfer of burden.