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Ghana Premier League giant Asante Kotoko will be refunding the $240,000 fine by FIFA to their Executive Chairman Dr. Kwame Kyei should he pay the money.
FIFA has imposed a fine of $240,000.00 on Asante Kotoko after failing to settle Esperance de Tunis the transfer fee [$150,000] of former striker Emmanuel Clottey who joined the Porcupine Warriors from the Tunisian giant in 2012.
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The Executive Chairman of Kotoko Dr. Kwame Kyei has agreed to pay the $240,000 fine to prevent the club from facing the wrath of the world football governing body.
But the General Manager of Kotoko, Nana Akwasi Gyambibi Coker has explained that Dr. Kwame Kyei is rather lending the team the $240,000 to pay the fine of which the club will later pay back the money.
He indicated that, the club currently, dont have enough fund to settle the fine, so they have decided to accept the loan from Dr. Kwame Kyei to settle the fine and later pay him back the money.
“Dr. Kwame Kyei has accepted to pay the $240,000 FIFA fine to ease supporters from any financial burden. Asante Kotoko does not have that amount in its coffers and will accept a loan from its chairman than go to any bank for it which will attract an interest”, Coker told Kumasi FM.
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“It is prudent to accept the loan from him and pay later than from any other source. We would have still gone for a strategic loan which will not go with another problem in future had the chairman failed to help us with a loan”, he added.
Kotoko have now till May 17, 2020 to pay the fine or face the wrath of FIFA which could be either a demotion or transfer ban.
