First Capital Plus pays $500,000 to clubs

Headline sponsor of the Ghana Premier League, First Capital Plus Bank, has fulfilled its financial obligation to the 16 participating clubs, following a publication about its outstanding indebtedness in the weekend edition of the Graphic Sports.

The paper reported that Premier League Clubs were grumbling over the delay in the disbursement of the sponsorship money after struggling to finance their participation in the first round.

The Head of Marketing and Corporate Affairs of the bank, Nana Yaw Kesse, disclosed to the Daily Graphic that $500,000 was paid into the Ghana Football Association's account last Thursday.

He explained that the disbursement followed a schedule which involved the GFA sending the bank a demand notice whenever the league went on recess.

“I can confirm that the GFA's account has been credited with the equivalent of $500,000.” 

"The payment was completed late on Thursday. It was in process and by the time I had  communicated with the finance Department of the bank; Graphic Sports had gone to bed," he added.

Mr Kesse added that the bank was committed to the development of local football hence its sponsorship of the league.

First Capital Plus Bank is in the second year of a $10 million five-year agreement with the GFA as the headline sponsor of the league. 

The GFA spokesperson, Ibrahim Saanie Daara, confirmed receipt of the money to the Daily Graphic yesterday.