EXCLUSIVE: Oil Cup tournament involving Hearts and Kotoko cancelled due to lack cash

The inaugural Oil Cup tournament involving Ghanaian giants Hearts of Oak and Asante Kotoko has been cancelled, GHANAsoccernet.com is reliably informed.

The competition which being instituted to celebrate Ghana’s oil find will not come off on Friday as originally scheduled.

Organisers, Absolute Peace International (API) according to sources are struggling with logistics for the tournament which was to also involve Medeama SC and Hasaacas.

The Oil Cup tournament which was to run for two days at the Essipong Stadium in Sekondi was supposed to have been launched on Wednesday.

The ceremony was however called off with the competition in its entirety at the last hour.

API claimed they had reached an agreement with all the four clubs to ensure the successful hosting of the competition.

GHANAsoccernet.com sources however suggest that pledges made by potential sponsors for the tournament were not forthcoming – leading to the competition’s cancellation.

API are desperate to keep their untapped reputation intact by deciding against running into difficulties by hosting the tournament while logistics and finances are not quite ready.

Asante Kotoko were to open the inaugural tournament at the semi final stage on Friday against Hasaacas while Hearts of Oak take on Medeama in the other semi final game.

Winners of the two games would have advanced to the finals while losers will square of in a third place playoff all on Sunday.