“Esteghlal has fulfilled all its financial obligations to Mosimane. The club has fully honoured all contractual payments to Mr. Mosimane,” the club said in a statement.
“The remaining $81 000 (R1.5 million) was settled on [Wednesday night], exactly one day after a new bank account was opened in Dubai, using international financial channels.
“It is evident that such a small outstanding amount in a long-term contract was not the real reason behind his sudden departure.
“Instead, factors such as fan dissatisfaction over poor performances, the rejection of several transfer requests in the winter window, and the likelihood of his contract not being renewed at the end of the season may have played a role in his decision," Esteghlal stated.