Owner of King Faisal, Alhaji Abdul Karim Grunzah insists he has never regretted his refusal to repay the loan he took from government to support his club’s participation in the Africa Inter-Club Competitions.

Faisal requested for a government loan of $30,000 to play in the CAF Confederations Cup in 2005 where the Kumasi based side was drawn in Group A of the tournament alongside Guinean club Fello Star Labe, Moroccan outfit Royal Armed Forces and AS Marsa of Tunisia.

The refusal of King Faisal to pay the loan to the Sports Ministry after the continental club competition led to government’s decision to cancel the revolving fund.

“I have no regret over that action because they gave me money and the agreement was that when we reach the money zone of the competition then we pay.

“We reached the money zone and we were supposed to pay back when we reach the semifinals but that did not happen,” Grunzah told Accra based radio station Starr 103.5FM.