Home Business Unveiled: Kurt Okraku administration inherited above GH¢11 million debt

Unveiled: Kurt Okraku administration inherited above GH¢11 million debt

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The recent management of the Ghana Soccer Association (GFA), headed by Kurt Okraku, inherited a credit card debt of about GH¢11, 106 550.00, a manuscript from the affiliation sighted by Joy Athletics has revealed.

Out of that, about GH¢316,550 has been paid out with GH¢10,790, 040.00 fantastic.

These figures arrived to gentle all through an Government Council assembly with Club house owners and Main Government Officers (CEOs) on Friday, Joy Sporting activities resources reported.

The disclosure was to enable the Golf equipment appreciate the fiscal troubles the management of the soccer governing human body in the nation fulfilled when they came into business office.

The breakdown of the figures incorporated dollars owed to arbitrator of the GFA and Glo deadlock, Kizito Beyuo, former Black Stars Mentor, Kwasi Appiah, two vehicles acquired in 2017, the land the GFA secretariat is positioned, vacation and tour company, Kenpong and numerous other people.

The GFA also captured West Head, an agency that claimed to have brokered the deal amongst the FA and Ghana Nationwide Petroleum Corporation (GNPC), leading to a courtroom struggle, as one of the institutions they owe. It mentioned “West Head – FA’s partnership with the GNPC broker. $1.4 million currently being their share or fee.”

This would suggest that, the FA’s current debt could quadruple if the court guidelines in favour of West Head.

For the latest broadcast legal rights holder, StarTimes, the amount owed them was still left blank.

The part read:

“StarTimes –

“Package for the premiership –

“$30,000 to be paid out to each Club.”

Pleasure Sports resources at the former Government Committee rebuffed these figures, primarily, West Head, indicating that, the situation is in court docket and the court has not awarded judgement in opposition to the FA. That, they say cannot be captured as a credit card debt.

For that of StarTimes, the period did not finish. The Normalisation Committee did not allow for StarTimes to finish protection for the rest of the time and the old leadership cannot he held accountable for any losses built all through the period there had been no football actions.

It emerged that Kwasi Appiah is owed $180,000 which include bonuses, $100,000 owed the provider of the two vehicles purchased from Dubai in 2017, GH¢450,000 such as interest accrued for the Secretariat land and GH¢26,000 owed Kenpong for supplying airline services to nationwide teams and $35,000 owed to the arbitrator, Kizito Beyuo for the GLO authorized tussle. They agreed to pay back Kizito $70,000 and $35,000 was paid out.

The doc also had GH¢1.7 million and GH¢480,000 owed referees and Match Commissioners respectively, with only GH¢300,000 and GH¢16,510 compensated to these two bodies.

T.T Ustay, a enterprise engaged to function on the FIFA Aim challenge at the Ghanaman Soccer Centre of Excellence, is owed GH¢7.6 million like curiosity, even though Treatment Freight Transport Company is owed a minimal in excess of GH¢151,000. A Television set at the lounge of the FA that charge the affiliation GH¢6,000 is also yet to be compensated for.

In March 2015, the Accra Significant Court ordered the GFA and FIFA to pay back $253,113.80 or its cedi equivalent to T. T. Ustay Minimal, as indemnity in connection with the development of the Purpose Task at Prampram, Pleasure Sporting activities sources explained, but added that, the principal was compensated subsequent the court docket ruling.

However, the curiosity from September 2004 to the time of summary of perform, was excellent.

We collected that previous Secretary-Basic, Isaac Addo, Lawyer of the FA Thaddeus Sory and then Crisis Committee member, Nanabanyin Eysion engaged T.T UStay for a negotiation on the interest but it was not concluded. Sources say, Kurt Okraku and his staff can go after that alternative, far too.

It is unclear the do the job performed by Freight Transport Agency to be owed in excess of GH¢151,000.

Checks also found out that, in 2017, the then Government Committee approved $150,000 for the invest in of two motor vehicles from Dubai for the FA President and Mentor of the senior countrywide crew. It was agreed that the money from Glo would be applied to shell out for the automobiles. $100,000 was superior for the cars and trucks from the initially tranche of payment built by Glo so the onus was on the present-day administration to complete payment from the remainder of the Glo money.

It is befuddling that, the FA explained the automobile supplier is owed $100,000 rather of $50,000, sources remarked.

We also assembled specifics that confirmed that the price of arbitration to Kizito Beyuo, monies owed referees and Match Commissioners accrued from many years the league was played devoid of a sponsor, 2015, 2016 2017.

Part of 2018. Partial payment was designed to these a few bodies from the $500,000 been given from Glo in April 2018.

For the land occupied by the Secretariat, a number of resources denied any awareness of owing the Divestiture Implementation Committee (DIC), as it was never designed acknowledged from 2005 until the time the previous administration remaining business office abruptly.

The records, having said that, obtainable shows that the GFA bought the current workplaces and land in 2003, and at no stage had been they at any time confronted with a credit card debt owed DIC.

Joy Sports understands, the FA hs called for a assembly with DIC subsequent 7 days to even more discuss and fully grasp subject.



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