Chairman of Kumasi Asante Kotoko, Dr. Kwame Kyei has been reported to have relieved the club of some $1.6m(GHC 7,537,995.00)owed him by the club.
According to Nhyira Sports, as at 8th May,2020, Dr. Kwame Kyei in a letter revealed that the team had owed Unity Oil( also owned by Dr.Kyei) to the tune of GHC 7,537,995.
It is however being reported now that Dr. Kyei’s Unity Oil has relieved Kotoko of all the debt owed the company.
In the past few weeks, the executive body of Kotoko has been going through thorough examination with the constitution of a new board announced and inaugurated on Tuesday 9th May, 2020.
Dr. Kwame Kyei, who is still chairman of the club has been directed by the Otumfuo to not sign any new players for the next year as the King and owner of the club seeks to put an end to the mass signings at the club.
This is among many changes at the club as the porcupine warriors look to put behind the bad publicity got from several transfer scandals in the last few weeks, including one involving former player Emmanuel Clottey. That particular misunderstanding almost led to a Transfer ban from FIFA.
Kotoko remain in the challenge for the league title and were in a top 4 position before the league got suspended due to the COVID 19 pandemic.