Hearts of Oak have started taking delivery of sponsorship monies from Strategic African Securities (SAS).
The financial investment firm entered into an agreement worth Ghc 600,000 ($317, 664) annually to become the Ghana Premier League giantsââ¬â¢ new headline sponsors.
Hearts have already started taking a monthly allotment of Ghc 50,000 ($26,472) Ã from the deal as confirmed by club chairman Togbe Afede XIV.
ââ¬ÅThe sponsorship is to the tune of Ghc 600,000 ($317, 664) just to substitute for what MTN was going to commit it terms of cash,â⬠he told Angel FM.
ââ¬ÅSo Ghc 50,000 will be paid monthly to the club from October over twelve months, totaling Ghc 600,000.ââ¬
SAS replaced telecommunication giants, MTN as the club's headline sponsor at the beginning of the season.
The money will be used to cushion the clubââ¬â¢s expenses which includes player wages and bonuses and administrative cost.
Source: MTNFootball.com