Glo default on Black Stars cash
The headline sponsor of the national team have not fulfilled their end of the agreement for close to two years, Supersport.com understands. Glo Mobile, who acquired an operating license in Ghana in 2008 owe $3 million.
The telecommunications giant signed a record-breaking $24 million five-year sponsorship agreement with the GFA in 2008, which made Glo the title sponsor of the Ghana Premier League as well as the headline sponsor of the Ghana national team.
Under the agreement, Glo has since 2009, had to pay the Black Stars $1.5 million every year, but the outfit is currently settling down after only starting operations in April.
The Ghana FA has been tied by the lack of interest of other corporates to identify with the Black Stars, and have had to give the Nigerian company discounts when payments for the league are due.
"Until now, even when they are to pay we have to give them discounts. Other companies were coming and offering even less than the three million dollars Glo are giving," said the FA boss.
"But the challenge is that when Glo say they want to pull out, we are in trouble. There is no company that will immediately offer such amounts so when people complain at meetings that Glo's payments are not forthcoming, I tell them to just hang in there and wait becuase we have no alternative."
Kwesi Nyantakyi has said many times that the country's football governing body are willing to terminate the Glo deal, especially for the league, following repeated complaints from Premier League clubs about the lateness of cash disbursement.
"I've challenged everybody that if they have a company in mind that offer even $2 million and pay quickly, we will take it and cancel the Glo deal. Ghana's economy is small and so the companies here are unable to pay large amounts for sponsorship."
Other sponsors for the Black Stars are Guinness, who pay $500,000 a year, Ricemasters, who pay GHC 200,000 a year.
The FA boss also confirmed that the Ghana National Petroleum Corporation are still in talks with his outfit for a potential $3 million a year deal, "but that will have to wait after the elections."
Better than others
With all Ghana's problems, the country's football sponsorship regime can take some consolation in being better than others in the sub-region.
"We are even better than other African countries: Gambia, Ivory Coast or even Togo and Burkina Faso. It's not like that there."
Nyantakyi went on to explain why most of Africa faces problems with sponsorship. "The challenge is Africa is the size of the various economies. Sponsorship is not philanthropy and sponsors want returns," he said.
"But companies here have small balance sheets. Apart from those in the mining and telecom sectors [in Ghana], most of the others have small balance sheets, so when they are bringing money it's even little."