Ghana giants Asante Kotoko must pay their former board chairman Dr. KK Sarpong about $250,000 by next month or face legal action from the astute businessman.
Lawyers of the astute businessman have written to the Porcupines Warriors to pay him an amount of GHc590,000 owed him during his tenure as the board chairman of the club.
Dr. Sarpong, who quit the post last year in the wake of rumours of his imminent sacking by the club owner the Asantehene, spent the amount to finance the purchases of key players.
The GHc590,000 owed the businessman was part of the seed money contributed by the directors of the club to fight to buy the best players in the league.
Five directors at the club paid GHc685,557 to buy some of the key players in the country to prevent arch-rivals Hearts of Oak from grabbing the said targeted stars.
It was agreed that the directors who contributed the amount will be paid 15% interest per annum on the total amount.
This means Dr. Sarpong contributed 78.5% of the total amount while the rest of the directors Alhaji Lamini, Madam Agnes Osei and deceased Jerry Asare and E.A Owusu Ansah paid the rest.
The club’s audited accounts shows that he made those contributions which has sparked the decision for him to threaten legal action to retrieve his money.
He has given the club one month to settle the debt or he will resort of the law courts to ensure he is paid the money.
Kotoko are thought to be one of the richest clubs in the country because of their huge following and proud supporters but recently they have complained of cash problems.
It is uncertain if they are able to pay the cash but there will certainly be moves in the background to convince Dr. Saprong not the take the legal route.
Dr Sarpong led Kotoko to two successive titles since his appointment in 2010 before he quit in 2013 but his era was dogged by accusations of selling too many players.
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