First Capital Plus Bank Limited (FCP) on Tuesday came to the aid of Ghana Football as it announced their new partnership with the Ghana Football Association to take charge as title sponsors of the Ghana Premier League for a five-year period.
The Financial Institution’s package is worth $10million. The event was witnessed by Hon. Elvis Afriyie Ankrah, John Kofi Mensah – the CEO of FirstCapital Plus Bank, the Ghana FA President and his vice, Black Stars coach Kwesi Appiah and Welbeck Abra-Appiah, chairman of the Ghana Premier League Board.
In his address the Chief Executive Officer of FCP Bank, Mr. John Kofi Mensah said “the sponsorship period will span five (5) financial years from January 2014 to December 2019 with the applicable exchange rate for the next five years shall be fixed at the Bank of Ghana mid exchange rate for the USD as at the day of execution of the agreement.”
“Disbursement of two million US Dollars annual sponsorship amount to be handed the GFA in Ghana cedis only, will be done in three tranches per year; the first tranche of 25% to be paid by the end of the first quarter, the second being another 25% by the end of the second quarter of the year while the final tranche representing half the annual sponsorship amount to be settled by the end of the fourth quarter of the year,” he said.
“The bank would encourage and make the league more exciting through packages for supporters to throng the various stadia not forgetting the technical handlers who would be motivated to perform.
We are Ghanaians and football is our passion. As an indigenous Ghanaian bank and a good corporate citizen, it’s with immense sense of pride that we decide to sponsor the Ghana Premier League and the beautiful game of football. It’s a game that serves as a unifying force and a source of national pride.
We look forward to a mutually beneficial relationship between FCP Bank and the Ghana Fotball Association and also wish the clubs exciting football seasons,” the CEO added. On receiving the money Kwesi Nyantekyi, President of the Ghana Football Association said, “We are delighted about this relationship. Ghanaians are very passionate about football and anyone who decides to sponsor football is sponsoring the passion of the nation. First Capital Plus has come at the right time.
It has come at a time the premier league has SuperSport as its media sponsor. We will abide by the terms of the contract”,
However, FCP Bank made available the first tranche payment of USD 0.5million which the GFA can begin sharing among the 16 teams in the First Capital Plus Premier League in the coming hours if not days.