According to the General Manager of Asante Kotoko, Nana Akwasi Gyambibi, Mobile Telecommunication Company, MTN have suspended all financial obligations to the club with immediate effect.
Nana Akwasi Gyambibi affectionately called Nana Coker, disclosed in a radio interview that there is a clause in their sponsorship agreement that allows a suspension of the obligations in the event of a force majeure- in this case, the coronavirus pandemic.
“It is stated categorically in the contract with MTN that any time there is closure led by a force majeure it means the contract can either be terminated or suspended. There is a letter from MTN to Asante Kotoko claiming they are suspended all their financial obligations to the club, this is in conformity of a clause in the contract that allows them to do so,” Nana Gyambibi Coker told Luv FM,
Many major sports competitions around the globe, including the Ghana Premier League, have ground to a halt, a situation greatly affecting the finances of many establishments.
Nana Coker has further revealed of the suspension of the domestic league due to the coronavirus pandemic is taking the club through a heavy financial distress.
The Porcupines this week started a dialogue with its employees to take pay cut in the wake of the Covid-19 crisis.
He added, “There will be serious difficulties in terms of the club’s financial situation. Coupled with the absence of football, Kotoko is not making any revenue which will make it difficult for club to fulfill its financial obligations to whoever the club is in contract with.
‘This and many other reasons are why we have been engaging employees of the club especially the playing body to accept pay cuts so that the club can be taken care of and sustained in this hard times.”
The Ghana Premier League has been suspended with 15 matches of the first round of played due to Covid-19.
Ghana’s case count is 1154 with 9 deaths and 99 recoveries.