Mr George Amoako, who doubles as the treasurer of Ghana League Clubs Association (GHALCA) and Vice Chairman of the Premier League Board (PLB), has revealed the former is in debt of five billion old Ghana cedis in the last four years.

Amoako revealed his outfit has been struggling with finances over the years despite annually organizing the President Cup.

This year’s cup match will be honored by the two glamorous clubs in the country, Asante Kotoko and Accra Hearts, for a second successive year after the Porcupines clinched the trophy in Accra on penalties last year.

Despite the debt owed, GHALCA has managed to pay an appearance fee of 50,000 cedis to both clubs, whiles the winner will be taking home an extra 10,000 cedis.

He shockingly revealed that, despite its successful organization over the years, GHALCA has never realized any financial gains in the last five to six years.

“We [GHALCA] have always accrued debt when organizing the President Cup,” Amoako revealed to Kumasi-based Abusua FM.

“As it stands now, in the past four years, we have accumulated a debt of over 500,000 Ghana cedis. Yet, it is organized annually.

“Notwithstanding the debt, it is our obligatory role to organize the President Cup every year by selecting one republic holiday to honour the sitting president. That is our core mandate.”

Hearts of Oak will be seeking to revenge their painful loss against Kotoko last year, and continue their fine form over the Porcupine Warriors in their last two meetings this season.

The Phobians will be hoping to make it a third time running after piping them in the league and a 3-1 win in the Ghana 60th Anniversary Independence Cup.