New Edubiase CEO Reveals $24,000 Colts Club Stake in Hearts of Oak Transfer Saga

The ongoing transfer dispute between Accra Hearts of Oak and New Edubiase United has taken a new turn, with New Edubiase CEO Alex Ackumey revealing that $24,000 of the $70,000 owed by the Phobians is earmarked for the colts club from which they signed midfielder Salim Adams.

Accra Hearts of Oak, one of Ghana’s most storied football clubs, faces a GFA-imposed transfer ban for failing to meet a May 31, 2025, deadline to settle the debt in full. The ban restricts Hearts from registering new players locally and internationally, with potential sanctions escalating to points deductions or even relegation for continued non-compliance.

Speaking on Max FM, Ackumey shed light on the financial dynamics of the situation.

“We need to pay the colts club that we bought the player from. They are taking $24,000 out of the $70,000. We as a club must go and settle that debt,” he explained.

While Ackumey acknowledged that Hearts of Oak had made efforts to address the debt, he said these were insufficient to meet the expectations set out in the GFA’s ruling.

The transfer dispute has cast a shadow over Hearts of Oak’s pre-season preparations as the club navigates the challenges of resolving the payment to lift the ban.

The GFA’s disciplinary code explicitly outlines the penalties for non-compliance, ensuring that the spotlight remains firmly on Hearts of Oak to take swift action and settle their obligations.

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