Prime News Ghana

Hearts of Oak refutes $700,000 Pobiman project cost reports

By Vincent Ashitey
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Ghana Premier League giants Hearts of Oak have refuted claims, the first phase of the Pobiman Academy project will cost $700,000.

On Thursday, media reports went rife that the Rainbow Club will spend close to $700,000 and will further pay an interest of 25% for a loan facility advanced to them for the construction of the Pobiman project.

However, an official statement from the Accra-based club have dismissed earlier reports by Oyerepa FM, stating the information put out is incorrect. 

"The Management of Accra Hearts of Oak Sporting Limited wish to bring to the notice of the general sporting public updates and clarifications on some club activities.

Pobiman Academy Project Cost:
The facts are that the Pobiman Academy Project contract has been signed soil, testing and topography.
The Club has secured a loan facility from a renowned Bank in good standing to finance the project.

The management is putting on record that the Pobiman Academy Project cost is not $700,000 as reported by Kumasi based radio station, Oyerepa FM.

And reports that also state that the Hearts Board Chairman, Togbe Afede XIV is financing the project which will come with an interest rate 25% to him are also fabricated, misleading and mischievous.

The information put out there by Oyerepa FM is incorrect and factual information will be provided by the club when it is appropriate."

Hearts of Oak last month signed a partnership agreement with Turkish firm Prefabex Yapi Teknolojileri San Ve Tic Ltd. (STL) for the construction of the Pobiman Academy Project.