Hearts is not "swimming in money"

Accra, May 18, GNA - The Management of Accra Hearts of Oak Sporting Club has said that the Club is not 'swimming in money' as being speculated by the public following their qualification to the league stages of the 2006 Confederation of Africa Football (CAF) Champions League competition.

Mr Ashford Tettey-Oku, Administrative Manager of Hearts in a press statement copied to the GNA Sports said organisers of the event, CAF have indicated to them that participating clubs will not receive anything from them until November 15.

He said unlike 2000, participating teams are to generate funds from Television rights and other promotional strategies.

The Administrative Manager emphasised that the news was confirmed in a correspondence sent to the Club from CAF, which states, "we draw your kind attention that in conformity with CAF and Sportif (sponsors of the event) contract, no financial payment can be available before the second half of November 2006".

Mr Tetty-Oku said the new development is very disappointing and will stretch finances of the club and therefore urged the supporters to patronise the Club=92s matches, which is the only source of revenue for the team.

He, however, gave the assurance that the Club will aspire to achieve the ultimate by grabbing the 950,000 dollar prize money by winning the competition, adding that since anything from 190,000 and 665,000 will not be enough to get the Club out of its present financial woes.