Herbert Mensah is ready to remain as chairman of Asante Kotoko for another two years.
He said the Asante King Otumfuo Osei Tutu wants him to continue with his plans to rebuild the club.
"I thought the time had come for me to give way for someone else to move the club forward, in accordance with our development plan.
"But the king has asked me to stay," Mensah told BBC Sport Online at his London home.
"I have the greatest respect for the king and and he will soon announce the way forward for the next few years."
Before now, Mensah said he would quit the club, regardless of the result in the African Cup Winners Cup final, which they lost to Wydad Casablanca.
Mensah's management style has been criticised as confrontational but he said that his methods are largely misunderstood.
"I am not a bully... If I have aggressively pursued the interests of Kotoko it is because I believe that the club should be run professionally."
The Kotoko chairman said the revival of the Porcupine Warriors remains a work in progress.
"This season will see Kotoko moving up yet another level because of the foundation built three years ago, when I took over the club.
"We will get there eventually but it will be tough. "