President of the Ghana Football Association Kwesi Nyantakyi has insisted that so far as he is concerned, Capital Bank (formerly First Capital Plus Bank) is still the headline sponsor of the Ghana Premier League.
The financial institution signed a five-year-deal with the Ghana Football Association in January 2014, worth $10 million in total and $2 million annually, but they have opted to halt all services related to the league after the company reached a decision to undergo restructuring.
First Capital Plus Bank cited poor organization, continuous change of date, poor attendance and low branding as their main reasons for the change of mind.
“The relationship between the GFA and the Capital Bank is governed by a contract and that contract is still in force. It has not been abrogated”, Kwesi Nyantakyi said in an interview.
“Under the contract there are procedures for bringing it to an end if any party is aggrieved or dissatisfied with any aspect of the contract or the relationship, there are procedures you follow to bring it to an end.”
“We received a letter from First Capital Plus informing us of the decision of their Board to suspend their sponsorship of the league. We pointed out clearly to them at a meeting that it is in clear contravention of the letter and spirit of the contract we have with them”
“We do not see anywhere in the contract where a suspension can be invoked to either put the league in ambiance or bring it to an end or suspend it temporarily or otherwise.”
“So the request for a suspension of the league is clearly alien to the contract and we have made that clear, but they still stick to their position.”
"Capital Bank Is Still The Headline Sponsor Of The Ghana Premier League"-Kwesi Nyantaki
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