Bought on mortgage, managed by his wife: Saddick Adams reveals details of Michael Essien’s housing case

A report by Dailyguidenetwork.com on Monday, June 17, 2024, disclosed for the first time that the Commercial Division of the Accra High Court had ordered the sale of the properties located at Stephen Quarshie Crescent, East Legon, House Number 9, and House Number 204/205, Trassaco (Phase 2) Adjiringano, all in Accra.

While the details of the court process remain unclear, a report by Kickgh.com indicated that the former Chelsea star had been battling financial issues, including unpaid loans.

However, according to sports presenter Saddick Adams, while the facts of the case remain true, Essien’s failure to fight the suit is a financial decision not influenced by economic challenges.

On the Tuesday, June 18, 2024, edition of his evening sports show on Angel FM, Saddick Adams, known as Sports Obama, shared some insider details about the case.

The journalist disclosed that the case started some five years ago after Essien was sued for defaulting on a mortgage for the houses.

Despite the former player being named as the principal defendant, Obama explained that custody of the houses had been transferred into the care of his 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 time when 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.

Contrary to the indication of financial difficulties, Obama said the former footballer remains financially okay, with several properties to his name in Ghana and across Europe.

He added that the player, upon weighing the cost of the mortgage, is rather interested in seeing the property sold.

“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.

Listen to Saddick Adams below: