A report by Joy Sports captures contents of a document titled “GFA Legacy Debts” which shows the current GFA administration inherited a debt of about GH¢ 11,106,550.00.
The document was reportedly presented to club administrators during a recent Executive Council meeting.
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Divided into cedis and dollar components, the legacy debt in the dollar currency is at $470,700.00 while that of Cedis is GHS 10,079,440.00.
And while GH¢ 316,550 of the cedi component has been paid, the GFA still has an outstanding debt of GHS 10,790, 040.00.
Among those owed by the GFA are Kizito Beyuo ($35,000), the arbitrator of the GFA and GLO impasse and former Black Stars coach, Kwasi Appiah ($180,000).
The document also shows that the FA purchased two vehicles in 2017 ($100,000) and owes another debt for the land on which the GFA secretariat is cited (GHS 450,000).
The Association also owes travel and tour agencies, Travel Matters and Kenpong Travel and Tours, amounts of $293,000 and GHS 26,000, respectively.
Find a full breakdown of the GFA’s debts below: