Kotoko embarks on fund raising to pay off debt

In attempt to raise funds to meet Fifa's ultimatum to settle an outstanding debts imposed by the world's football governing body within 30-days, the management of Kumasi Asante Kotoko SC has activated the club's bank accounts for numerous supporters to contribute their quota from across the world.
The football governing body's disciplinary division has directed Kotoko to pay €99,000 in compensation to former coach Hans Dieter Schmidt for unilateraly dismissing the German on January 10, 2005.
The club has also been asked to refund Turkish club Gençlerbirligi S.K. with an amount of $6,500 for failing to pay a ‘Solidarity Mechanism’ to local side B.T International from the $250,000 transfer of defender Adamu Mohammed in 2008.
B.T International were entitled to a development fee from Adamu's transfer which Kotoko should have paid. The club refused to pay because they argued they had paid an amount of $35,000 to secure the player's transfer certificate (ITC) for the Turkish club.
However, B.T International petitioned FIFA over the matter and Gençlerbirligi were made to pay the $6,500 ‘Solidarity Mechanism’ fee.
Gençlerbirligi then reported Asante Kotoko to seek for a refund of the $6,500 because they had agreed that all other payments to parties of interest in Adamu's transfer was catered for in the $250,000 transfer sum.
Footy-Ghana.com understands Kotoko has in the last few hours negotiated with Turkish side Gençlerbirligi for a flexible payment terms.
In lieu of FIFA's directive to pay German coach Hans Dieter Schmidt within 30 days, the club has in conjunction with one of its sponsors, Fidelity Bank announced the following bank accounts for supporters and wellwishers across the world to contribute.
Cedi Account: 2410019872851
Dollar ($) Account: 1051019872891
Euro (€) Account: 1053019872865

In attempt to raise funds to meet Fifa's ultimatum to settle an outstanding debts imposed by the world's football governing body within 30-days, the management of Kumasi Asante Kotoko SC has activated the club's bank accounts for numerous supporters to contribute their quota from across the world.
The football governing body's disciplinary division has directed Kotoko to pay €99,000 in compensation to former coach Hans Dieter Schmidt for unilateraly dismissing the German on January 10, 2005.
The club has also been asked to refund Turkish club Gençlerbirligi S.K. with an amount of $6,500 for failing to pay a ‘Solidarity Mechanism’ to local side B.T International from the $250,000 transfer of defender Adamu Mohammed in 2008.
B.T International were entitled to a development fee from Adamu's transfer which Kotoko should have paid. The club refused to pay because they argued they had paid an amount of $35,000 to secure the player's transfer certificate (ITC) for the Turkish club.
However, B.T International petitioned FIFA over the matter and Gençlerbirligi were made to pay the $6,500 ‘Solidarity Mechanism’ fee.
Gençlerbirligi then reported Asante Kotoko to seek for a refund of the $6,500 because they had agreed that all other payments to parties of interest in Adamu's transfer was catered for in the $250,000 transfer sum.
Footy-Ghana.com understands Kotoko has in the last few hours negotiated with Turkish side Gençlerbirligi for a flexible payment terms.
In lieu of FIFA's directive to pay German coach Hans Dieter Schmidt within 30 days, the club has in conjunction with one of its sponsors, Fidelity Bank announced the following bank accounts for supporters and wellwishers across the world to contribute.
Cedi Account: 2410019872851
Dollar ($) Account: 1051019872891
Euro (€) Account: 1053019872865