Each Ghana Premier League club pockets US$ 14, 864 after First Capital Plus Bank pays final tranche of season's sponsor money

Published on: 14 August 2015
Each Ghana Premier League club pockets US$ 14, 864 after First Capital Plus Bank pays final tranche of season's sponsor money
Ghana

Each Ghana Premier League club has become GHC 55,000 (US$ 14, 864) richer after title sponsors First Capital Plus Bank paid the final tranche of US$ 1million as the season’s sponsorship money.

The Corporate Affairs of First Capital Plus Bank Nana Yaw Kesse revealed to the Graphic Sports that the outstanding amount was paid into the GFA’s accounts on 03 August.

He explained that the cedi equivalent to the US dollar was pegged at the hedged contract rate of GHC 2.38 to $1.

Though delayed, the money seems to have come at a time when all the 16 clubs need money badly in the heat of their respective campaigns, with three matches to end the season.

This is the third installment of sponsorship money so far disbursed by the First Capital Plus Bank to the clubs this season.

According to Mr Fianoo, the clubs received the first tranche of GHC 34,000 just before the commencement of the league, while the second installment was paid at the start of the second round, making it a total of GHC123,000 per club.

When contacted, the chairman of the Premier League Board (PLB), Mr Welbeck Abra-Appiah, said since the money represented the last payment for the season by the league’s headline sponsor, “a whole lot of expenditure would have to be considered before determining the clubs’ share.”

The Bank’s $2m per season sponsorship for the elite league is in its second year.

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