New Premier League Board (PLB) chairman, Ashford Tettey-Oku, insists Capital Bank (formerly First Capital Plus Bank) remains title sponsors of the Premier League in spite of a unilateral suspension of the contract by the bank two months ago, casting doubts over whether the 2015/16 season will commence next month without sponsorship.
The PLB boss told the Graphic Sports yesterday that Capital Bank had a contractual agreement with the Ghana Football Association (GFA) and as far as he was aware the FA had not given any indication that the contract had been abrogated.
Reacting to concerns by Premier League clubs about the uncertainty over the league sponsorship, Mr Tettey-Oku said much as he identified with their apprehension, there was no cause for alarm.
"The PLB understands the concerns of the clubs, but so far as we know, Capital Bank remains the sponsors and until the GFA gives us a contrary situation, we do not have contrary situation we do not have to be despondent," he assured.
He admitted that playing this season's league without the title sponsorship would not only affect the clubs financially, but also the FA, which spends over GH¢2million to organise the league every season, aside of the sponsorship.
"Without the sponsorship, the FA will also have to find money to completely run the league, and aside other huge costs it takes care of, the situation would be a huge financial challenge for the FA and as such everyone is very much concerned and determined to ensure the contractual agreement is respected."
He gave the assurance that with the Broadcast Sponsorship deal with SuperSport still running, the premiership clubs were set to benefit from the season's package, with the PLB ready to get the league started on February 20.
"We are very ready to get the season started. All the knotty issues have been dealt with so far as organisation is concerned and we assure all of an exciting season," Mr Tettey-Oku indicated.
At the end of last season, the bank officially informed the FA in a letter about its decision to suspend $2million-a-year deal with the FA in order to undertake some internal restructuring. The sponsorship deal, which was in its second year, was to run for five years.
In reaction, GFA president, Kwesi Nyantakyi, said per the terms of the contract, there was no room for a “suspension” and notified the bank about the possible legal ramifications such a unilateral action could attract.
Efforts to get a reaction from Capital Bank was not successful at the time of going to press.
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