Ghana Premier League clubs owed US$ 67,000 each as second tranche of season's sponsorship money

Ghana Premier League clubs are owed US$ 67,000 each as second tranche of their the monies from title sponsors First Capital Plus Bank.

According to the state-owned Graphic Sports, the delay in the disbursement is worsening the financial problems of the 16 clubs participating in the top-flight.

But head of marketing and corporate affairs of First Capital Plus Bank, Nana Yaw Kesse, told Graphic Sports yesterday he was unable to confirm whether the money had been paid to the clubs.

"I can't confirm whether the second tranche has been paid. At the beginning of the year we released the money to the clubs without much fanfare.

"Payment of the money is a financial transaction between the GFA and the finance department of the bank. The GFA has an account with us, so they give us a demand notice and we pay."

Each club pocketed about GH¢33,000 from the first tranche which represented a 30 per cent of the total amount.

The Graphic Sports reports that a board member of one of the clubs that even though the US $2 million package for the entire season was inadequate, the decision to hedge the dollar at GH¢2.50 instead of the prevailing GH¢3.80 had worsen matters.

He disclosed that the decision by the Ghana Football Association (GFA) to make itself the 17th beneficiary of the sponsorship deal, aside the 16 clubs and the 25 per cent agency fee, had terribly ripped the clubs off substantial amount.