The Ghana Premier League will witness a massive boost from next week when one of the fastest growing banks in the country First Capital Plus is announced as the headline sponsor of the top-flight league in a whopping $10m deal.
According to insiders, the Ghana FA will receive $2m per year in a five-year sponsorship deal which will come as a massive boost for clubs across the country.
The news comes as a huge relief for clubs in the top-flight who have been complaining of lack of funds since Glo, the previous sponsor, defaulted on payment several times.
The league will now be named the First Capital Plus Premier League.
An unveiling event will he held next week where the exact details will be revealed as the immediate details of the deal can only be called speculation.
First Capital Plus, a former savings and loans company, became a universal bank in August last year after its huge successes in that field.
They have cleverly dived into football sponsorship at a time that the Ghana Premier League is enjoying massive successes with its continental broadcasting deal with SuperSport.
SuperSport's broadcast deal with the Ghana Premier League will give them unrivaled massive publicity needed to boost their operation, popularity and future expansion plans.
The deal will give First Capital Plus publicity that no bank in the country enjoys in the industry that is hugely competitive.
Apart from the broadcasting on SuperSport, the GFA's reciprocal agreement with radio stations over free publicity for sponsors in return for free radio commentary rights, gives First Capital Plus massive exposure which cannot be quantified financially.
It will also tap into the virgin football industry which banks have ignored in the past as they will rake in new customers like the players, clubs and the Ghana Football Association as well as football fans in the country.
First Capital Plus is the second indigenous bank to sponsor football in Ghana after uniBank took the sponsorship of the Black Stars just three months ago.
The top banks in the country, particularly the foreign banks, have been reluctant to sponsor football even though they make huge profits in the country and sponsor football in other countries like England.
Standard Chartered Bank and Barclays Bank, both British banks, have been accused of racism in certain quarters as they sponsor Liverpool and the English Premier League respectively but are reluctant to support football in Ghana.