Sports News of Saturday, 2 January 2016
Ghana Football Association are contemplating of taking a legal action against First Capital Plus Bank now “Capital Bank” for abrogating their Ghana Premier League sponsorship agreement, the FA President has hinted.
The financial institution in January 2014 signed a five year sponsorship deal with the Ghana Football Association worth $10 million to be the headline sponsors of the domestic top-flight.
But the bank after a season has decided to terminate their agreement with the Ghana FA stating restructuring as the reason for the termination.
Reports are that the FA after several months has tried their best in getting back the bank to re-new their commitment but all attempts have proved futile.
Due to that, the Ghana Football Association are considering taking a legal action against the bank for abrogating their sponsorship agreement.
“We have written a letter to the bank pointing to them that the decision they took is not in the contract. The contract does not allow them to suspend the sponsorship agreement”, GFA President Kwesi Nyantakyi said.
“Our lawyers have advised us on the legal processes we can take to get them to respect their part of the agreement.”
“As at now, we are still trying our best to get them (First Capital Bank) to rescind their decision but if they fail to oblige, we will take a legal action against them.”
If the FA finally succeeds in taking the financial institution to court, it will be the second time the federation has taken their sponsors to court.
It will be recalled that the FA is currently holding communications giants Glo Ghana to the neck for pulling out of a similar sponsorship deal a few years ago.