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According to Opemsuo Radio, Otumfuo Osei Tutu II has made the money available to the Interim Management Committee, which he personally constituted to run the club.
The IMC is made up of Nana Apinkra Akwasi Awua, the Kontomponiaferehene, former Black Stars coach, James Kwesi Appiah, newly-appointed Kotoko coach Dr. Prosper Narteh Ogum and Emmanuel Newton Dasoberi as the administrative manager.
Kotoko comfortably won the league in the 2021/22 season with Prosper Narteh Ogum in charge of the club as manager.
However, the former WAFA boss surprisingly parted ways with the club before the start of last season and was replaced by Burkinabe coach Seydou Zerbo.
Although Zerbo made a bright start to life as Kotoko manager, things began to fall apart midway through the season, which led to his sack.
The Porcupine Warriors went on to endure a disappointing campaign that saw them end the last season in fourth place and without any piece of silverware.
Having taken a tour of Kotoko’s Adako Jachie training facility project, Otumfuo lamented the debts accrued by the club and said Kotoko is the only institution that embarrasses him.
“The current debt is from hotel expenses, players salaries and wages – which have been accrued also from the last two months adding June and July,” he said, as quoted by Joy Sports.