Reports have surfaced clarifying that the Accra High Court’s order to auction two properties belonging to former Ghanaian international Michael Essien is not directly linked to his personal financial hardships.
According to a disclosure by Dailyguidenetwork.com on Monday, June 17, 2024, the Commercial Division of the Accra High Court mandated the sale of Essien’s properties situated at Stephen Quarshie Crescent, East Legon, House Number 9, and House Number 204/205, Trassaco (Phase 2) Adjiringano, all in Accra.
While the specifics of the court proceedings remain murky, Kickgh.com’s report hinted at Essien grappling with financial challenges, including unresolved loans.
However, sports presenter Saddick Adams, popularly known as Sports Obama, shed light on the situation during his evening sports show on Angel FM on Tuesday, June 18, 2024.
Adams clarified that while the factual basis holds, Essien’s decision not to contest the lawsuit is primarily a strategic one rather than a direct result of financial difficulties.
The journalist disclosed insider information, indicating that the legal dispute began about five years ago when Essien faced legal action for defaulting on mortgage payments for the properties.
Despite being named as the principal defendant, Adams explained that custody of the houses had been transferred under the management of Essien’s wife.
“Essien has not taken out a loan. It is being reported that he is in debt due to several loans, but the truth is that it is a mortgage he signed while he was playing and was paying in bits.
Then it got to a point where payment was not coming through as it was supposed to. So the property owner or the bank that financed it decided that they wanted to take it back, so it is not a loan.
“Essien also left the house in the care of his wife, Akosua Puni. He had no interest in it as his property, and so the control was left in someone else’s care who was expected to continue with the payment of the mortgage,” the journalist said.
Despite initial suggestions of financial challenges, Sports Obama clarified that the former footballer, Michael Essien, is currently in a stable financial position. According to him, Essien possesses numerous properties in Ghana and Europe.
Obama further explained that Essien’s decision not to contest the lawsuit was not driven by financial distress. Instead, he emphasised that Essien is actively interested in selling the properties, considering the costs associated with the mortgage.
“According to a close friend of Essien who also had a property in the same area, the cost of the mortgage shot up while property prices in the area have also gone up.
“So when the case went to court, he allowed for the property to be sold and took his share to buy a new one at a different location. That is more advisable than paying, say, a hundred thousand pounds every year on the mortgage,” he said.