The PRO of the MOYS, Michael Frimpong, confirmed this to the Graphic Sports yesterday after a scheduled ceremony for the GFA to refund government’s $4 million loan which was flown to Brazil to settle the team’s controversial appearance fee was called off.
According to Mr Frimpong, the Commission, chaired by Justice Senyo Dzamefe, had in a letter addressed to the ministry directed that the World Cup money was to be kept in its accounts till the commission had submitted its report.
Mr Frimpong said, “Justice Dzamefe’s commission wrote to the ministry directing it to receive the total sum of money till they submit their report.
“The plan was to collect the $4 million we loaned the GFA as part of the pre-financing agreement with them. The GFA?was expecting a sum of $8 million from the Black Stars’ participation at Brazil 2014 but after tax deductions, the money is now $7.1 million which the MOYS was supposed to receive today.
“The GFA was ready to give us the $4 million but the ceremony was called off due to some unforeseen developments,” he added.
Mr Frimpong further explained that per the original arrangement, the $3.1 million balance after the loan repayment was to be invested in the development of Ghana sports.
“The GFA and the MOYS were to decide how to invest the remaining $3.1 million balance into the development of sports in Ghana,” he added.
Earlier, the GFA President, Kwesi Nyantakyi, had told the paper of the FA’s readiness to repay the $4m loan at a ceremony at the ministry until the last minute directive scuttled that arrangement.
(Selorm) | 
(Nana Kwesi)