Legon Cities communications director Kwame Dwomoh Agyemang has revealed the figures, reported by local media as the signing fee for veteran Ghana striker Asamoah Gyan, are not true.
Gyan joined The Royals on a one-year contract on domestic Transfer Deadline Day on Saturday, amid claims of a deal worth $1 million.
He settled for Legon after failing to reach an agreement with local giants Asante Kotoko whom he had publicly declared love for and stated a desire to wear the colors of the club.
“Gyan will play for us this season and if things go on well there is the possibility that he will stay with us for another season," Agyemang told Vision 1 FM.
“Gyan’s contract is structured, we have seen a lot of things in the media but that isn’t the case.
“We can’t disclose the amount he is going to take even the Europeans do not do that. What we normally hear are speculations from the media. There is no club that will disclose the salary of a player because it is confidential.
“What I can say is that he signed a performance-based contract."
In his first and only previous stint in the Ghana Premier League (GPL), Gyan played for Liberty Professionals.
He could mark his Legon debut against Berekum Chelsea on Matchweek One of the 2020-21 season on May 14.
"Sometimes people forget that the Ghanaian league is also a professional league," Gyan told the BBC.
"I got the offer [from Legon] and everything was right - as a professional you have to evaluate everything. I am very proud to be in the Ghanaian league.
"The most important thing is that they were serious about the contract. I am a very serious guy, despite people seeing me as a funny guy as well, but when it comes to working, it is work. Everything is about seriousness.
"I am in Ghana and I am home. I signed for this club because they have a huge project - they want to change Ghana football. I came here for a reason so while I am enjoying football, we are also doing things behind the scenes to benefit Ghana football."
Gyan once played for Premier League club Sunderland, Udinese in Italy, and Rennes in France.