Asante Kotoko life patron Otumfuo Osei Tutu II has requested an enquiry into issues surrounding the club's controversial transactions with Tunisian club Esperance.
The Porcupine Warriors have been handed an ultimatum by Fifa to pay up a fine of $240,000 by May 10 or face a transfer ban after being found guilty in a legal battle with Tunisian club Esperance.
Kotoko's management, led by executive chairman Kwame Kyei, has come under heavy criticism for their "poor" handling of the issue which has led to the big debt.
A Wednesday statement from Manhyia Palace - the seat of Otumfuo - says "a committee has been appointed to investigate all the circumstances surrounding Asante Kotoko Sporting Club's transaction with Tunisian club Esperance which resulted in the Fifa ruling and subsequent transfer of another Asante Kotoko SC player with the club".
The misunderstanding between Kotoko and Esperance involves the transfer of striker Emmanuel Clottey in 2015 and midfielder Kwame Bonsu last year.
Kotoko owed Esperance $180,000 from Clottey's acquisition.
After the Tunisians purchased Bonsu from the Porcupine Warriors last year for $150,000, Esperance also opted against paying up, instead deciding to offset the cost with part of Clottey's 2015 arrears and demanding $30,000 more from Kotoko to completely clear the striker's debt.
The issues reached the doors of Fifa who ruled in favour of the Tunisians.
Wednesday's statement also revealed under-fire chief Kyei has submitted a report on his three-year administration for review.
After an evaluation, "an announcement on the future of the club will be made".
Again, the publication reveals the committee will also "investigate the failure of Asante Kotoko SC to meet its regulatory obligations for the Premier League licence".
