GFA WAIVES 50% OF PREMIER LEAGUE CLUBS LOANED MONIES

The Executive Council of the Ghana Football Association has taken a decision to waive fifty percent (50%) of the remaining loan amount of GHc25,000 owed by each of the 18 Premier League clubs to the GFA.

It would be recalled that the GFA loaned each Premier League club an amount of GHc50,000 before the commencement of the 2019-2020 season.

At the start of Covid-19 pandemic, the GFA waived half of the loan amounting GHc25,000 as GFA Covid-19 Relief to the Premier League clubs.

Thus, upon this second waiver, each Premier league club now owe the GFA only GH12,500 of the outstanding loan.

This loan amount will be deducted from any sponsorship amount received in relation to the Premier League.

The council are doing this to enable the clubs to mitigate the financial difficulties they have faced during the coronavirus crisis.

Source: gfa