FIFA'S DECISION to postpone the World Club Championship until 2003 has left Hearts of Oak of Ghana, and Zamalek of Egypt, in a state of shock.

Worst hit are the Ghanaians who have already surrendered their African Champions League title, and were banking on the World Club Championship windfall for a financial lifeline.

FIFA cancelled the beleaguered championship, one of Sepp Blatter's ideas that has been considered by many soccer buffs as one competition too many, saying it is inconvenient from the perspective of national and international fixtures.

IN GHANA, the news left Hearts chairman Mr Harry Zakkour devastated. He said: “I can't believe it. After all we have put into preparations for the competition, all sponsorship deals we have negotiated. This is bad news and is rubbing salt in our already festering wounds.”

In Egypt, there was quiet in the Zamalek camp, but coach Otto Pfister said: “It is for the management to decide what to do. But is not good news for the players who have been looking forward to a chance of showing their skills at a high level.”

In financial terms, both teams have been hit badly, as Zamalek who have received $US 250,000 from the Egyptian football Association to prepare for the championship, now have to issue a refund cheque, while Hearts will lose millions of dollars on participation fees and television rights.

The bankruptcy of its major marketing partner ISL, and the pulling out on Thursday of French marketing group Vivendi, have necessitated FIFA's decision.