By Patrick Akoto
Kotoko must cough up a reported fee of $100,000 to renew the contracts of eight of their key players.
Captain Michael Akuffo and defender Kwabena Adusei are among a list of high profile players whose contracts runs out at the end of the season.
The Ghanaian heavyweights are desperate to tie the players to new deals after Yahaya Mohammed activated the Bossman rule to sign pre-contract agreement with Libya side Al Ittihad-Tripoli.
The board must provide a financial warchest of $100,000 to renew the existing deal of their top stars or risk losing them for free.
â€œWe have already notified the Board that we have eight players whose contracts have to be worked on and we need to sit down with them,â€ board member Alhaji Lamine is quoted by Power FM
â€œThe Board is aware and there is a financial problem in the club and we still owe some players salaries so we need to clear the arrears before we can sit with the players.
â€œWe have submitted a budget of GHC 250,000 so we are awaiting the money.â€
GHANAsoccernet.com has insisted players are owed salaries and bonuses but officials have strenuously denied such reports.
The revelation by board member Alhaji Lamine rubbishes such denials in the local media.
A chunk of the current playing body have their existing contracts nearing expiration as club officials find several ways in desperation to sweet-talk them into extending their contracts.