The hierarchy at the Manhyia Palace, owners of Kumasi Asante Kotoko have started negotiations with an unnamed consortium in a bid to bring in new investors to help try and restore the club to the top of the African game, Ghanasportsonline.com can exclusively reveal.
A close source at the Manhyia Palace, seat of Otumfour Osei Tutu II, the life patron of the club, has told Ghanasportsonline.com of countless meetings held in the last month with several corporate entities, foreign and local strategic investors with the feasibility of a partnership agreement or complete take-over of the two-time African Champions.
The Asantehene, owner of the club is apparently not happy with the running and administration of the club in recent years and has been advised into inviting prospective bidders for the Ghanaian champions.
“It is not that we want to sell the club, far from that but in the long term, we want to hand over the club to an investor”, A source has said
“We cannot outrightly sell the club but we understand the situation is not good at the moment, everybody knows how Kotoko has been administered in recent years and that is the reason for this decision”.
“The king is not happy, we all know how the club has been engulfed in debts administration after administration yet same people come as board members and return years later”.
“He (Otumfour) is fed up with the musical chairs and his advisors have talked him into leaving the club in the hands of an investor who would pump monies into the club and make it attractive like the Barcelona, Chelsea and Real Madrid’s”.
“We are having meetings, many organisations home and abroad, several other investors are weighing up bids for the club and we would continue to negotiate till we are satisfied with a particular one”,
Kotoko has experienced massive player exodus in the last decade despite huge fan base and fertile marketing opportunities available to the club.