Big relief for Ghana Premier League clubs as Football Association grants them 50% waiver of 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 Premier League clubs to the GFA.
The GFA in adjusting the FIFA COVID-19 relief funds to the premier league clubs maintained the 15,000 US Dollars it allocated to the Ghanaian top flight clubs.
The Executive council believes waiving the 50% of the loan facility it offered to the clubs will go along way to alleviate the financial distress the clubs find themselves amidst the COVID-19 pandemic
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.
