Asante Kotoko IMC finally clears $25,000 debt with GFA

Asante Kotoko, in a move to resolve their financial obligations, has successfully settled a $25,000 debt owed to the Ghana Football Association (GFA) for unpaid transfer fees.

Previously, the GFA had issued a notice to the Porcupine Warriors, insisting on payment of the GFA’s percentage from the club’s player transfers from the previous season, with the threat of demotion looming if left unresolved.

To address the outstanding debt, Asante Kotoko’s management reached an agreement allowing the GFA to deduct the owed amount from their share of sponsorship money provided by StarTimes, the Ghana Premier League’s TV rights holder.

According to a report by Kessben Sports, the GFA deducted the $25,000 from the StarTimes sponsorship payment owed to Asante Kotoko after receiving the funds from the broadcaster.