Hearts of Oak Managing Director Gerald Ankrah has confirmed the club had to borrow money to support its campaign in the CAF Confederation Cup.
The Phobians were unable to make the group stage of the African club competition after losing 5-1 on aggregate to Esperance in the ultimate preliminary qualifier.
Hearts however needed to strengthen its finances to be able to compete in the Confederation Cup which is seen in this part of the world as economically a loss venture.
The club’s administrative head has now confirmed they borrowed money to augment their scarce resources for the failed African campaign.
‘It is not all our money. We had to borrow from other sources,’ he confirmed to Happy FM.
Hearts are still counting their losses over their failed campaign in the Confederation Cup not only on the financial front but also in terms of human resource with some players sustaining various degrees of injuries.
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