Firts Capital Plus Bank are the new headline sponsors of the Premier League
By Ameenu Shardow, follow on Twitter @alooameenu
The Ghana Premier League has received the first tranche of payment in their new mega-dollar sponsorship deal with First Capital Plus Bank.
The wholly-owned Ghanaian bank issued a cheque of $500,000 to the Ghana FA after unveiling a $10m sponsorship package to become the headline sponsor of the Ghanaian top flight for the next five years.
The bank has revealed a detailed schedule towards making an annual cash injection of $2m to the Premier League.
It first paid 50 percent of the total annual allotment upon the unveiling and will be making 25 percent payments within the next and last quarter of the year respectively.
This means the 16 participating clubs will be handed their quota of the released amount to help alleviate their huge financial burden as the second half of the season begins.
Parts of the money will also be used to defray some of the cost for match officials and also other logistical and administrative cost of the Premier League Board.
The mouth-watering five-year sponsorship package comes at a vital time where a complaint of clubs for financial support is at its apex.
The Ghana FA organized the first half of the season without a headline sponsor after the expiration of the agreement with telecommunications firm Globacom.
The Nigerian-owned telco have outstanding sponsorship arrears to clear with the Ghana FA.
