Kotoko owner seeds new board with GH¢450,000

Manhyia - The owner and Life patron of champions Asante Kotoko SC, His Majesty Otumfuo Osei Tutu II, the Asantehene has at the inauguration of a 10-member board for the club on Wednesday, handed the new directors seed money to aid their running of the club.

Speaking at the well-attended ceremony, the Asantehene revealed he had placed a GH¢450,000 (¢4.5 billion) into the club’s accounts to cushion the new board which has Lawyer Paul Adu-Gyamfi as Chairman in its immediate activities.

“This morning, I instructed that an amount of GHc450,000 be put in the club’s account for you [board] and the management for necessary expenses. I have been informed you need money for player recruitment so go and use it for that purpose immediately,” the Asantehene said.

Accountability

The Asantehene in outlining his vision for the new directors of Asante Kotoko revealed the erstwhile Dr. Sarpong led board and management left the club’s accounts in red and stated that measures have been placed to erase any ambiguity over the club’s financial reports. The Adu-Gyamfi board as part of their duties will be presenting quarterly reports of the club’s finances to auditors Asamoa Bonsu & Co.

A special emergency bank account is to be created for the club which will be stocked with 20% of all incomes be it cash or in kind from sources such as sponsorships, gate proceeds, player sales etc. The account will be reserved for emergency purposes so that in cases where management is in dire need of a cash boost, the yet to be appointed Chief Executive can request through the board and the amount will be granted as loan.

Board members

Paul Adu-Gyamfi (Board Chairman), Kofi Dua  Adonten (Lawyer), Ambassador Kabral Blay-Amihere (Chairman, National Media Commission), Samuel Osei Kuffour (Ex-footballer), Frank Appiagyei (Veteran Journalist, Businessman), Nana Ekuoba Kwadwo Gyasi (of K. Gyasi Co. Ltd fame), Jude Kofi Arthur (CEO of First Atlantic Bank), Nana Kwame Kusi II (Ankobeahene of Asante Kingdom), Joe Gyekye (AKOPA), Bernard Xiel (Supporters leader).