GFA Exco Approves Three Developmental Funds
The Executive Council of the Ghana Football Association (GFA) has approved three developmental funds for the federation.
These funds among others are set up to help the GFA improve in the areas concerned. The funds include the Central Fund, Medical Fund and the World Cup Benefit Fund.
The Central Fund:
This fund is set up to support activities of Juvenile Football, Women’s Football, RFA’s and the Medical Fund. This fund is important due to the pressing need for a dedicated source of funding for the aforementioned activities.
- Ten percent (10%) of all net statutory payments to the GFA
- Ten percent (10) of all net revenues accruing to the GFA from the participation of all National teams in International assignments.
- Two percent (2%) of revenue generated from Football Development Fund (FDF) via international transfers.
- Revenue from corporate sponsorship
The Medical Fund:
This fund is set up to cater for serious injuries to players in the Premier, Division One and Elite Women’s division. Injuries such as bones, cartilage and ligaments shall not be solely left to the responsibility of clubs.
The Executive Council looks forward to securing partnerships with medical institutions and experts in ensuring that players especially, operate at optimum level at all times and are also guaranteed of quality medical care where the need arises.
The GFA is also looking to build the capacity of medical personnel at all clubs. This shall be achieved through retraining and certification of all practitioners while also enhancing the credentials of prospective practitioners.
- Central Fund
- Proceeds from all FA Cup matches
Special World Cup Benefit Fund:
The fund is set up to enable key stakeholders benefit from World Cup participation for development projects. For this purpose, thirty percent (30%) of net revenue accruing to the GFA from World Cup participation of the Black Stars shall be channeled to key stakeholders in the following ratio:
- Sixty percent (60%) to clubs in the Premier, DOL (Division One League) and WPL (Women’s Premier League).
- Ten percent (10%) to Juvenile Football.
- Ten percent (10%) to RFAs.
- Ten percent (10%) to PFAG.
- Ten percent (5%) to GHALCA.
- Ten percent (5%) to Coaches Association.
The above stated developmental funds will help address some pertinent issues and challenging areas of operation of stakeholders in the industry, giving an attestation to the FA’s mission of igniting passion and creating wealth for all in football.