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29.11.2019 Football News

Telecommunication Giants Globacom Pays $1,000,000 To Ghana FA As Arbitration Settlement

By Samuel Ekow Amoasi Appiah
Telecommunication Giants Globacom Pays $1,000,000 To Ghana FA As Arbitration Settlement

Globacom have paid $1,000,000 to the Ghana Football Association as arbitration settlement.

The Nigerian Telecommunication giants was the headline sponsor of the Ghana Premier League four seasons ago could not oblige by its part of the deal cancelling the contract before time.

This saw the Ghana FA take legal action against the Telecommunication network for wrongfully abrogating the contract.

The Company were asked to pay an amount of $1,000,000 for damages which has finally been settled.

Below is the statement of the Ghana Football Association website;

The Ghana Football Association (GFA) wishes to announce for the information of its members and all stakeholders that, an amount of $900,000 US Dollars, being arbitration settlement by Globacom Ghana has been bequeathed to it by the former Normalisation Committee of the GFA.

The $900,000 US Dollars was paid into the GFA’s account on Wednesday, November 27, 2019.

As explained by the Normalisation Committee to the new administration of the GFA, Globacom Ghana paid an amount of $1,000,000 (one million) US Dollars to the Normalisation Committee as arbitration settlement for the unilateral abrogation of a sponsorship contract between the GFA and Globacom Ghana.

The Normalisation Committee explained further that 10% of the total payment of $1m US Dollars, being $100,000 US Dollars, was paid as legal charges to the Lawyer the Normalisation Committee contracted to pursue payment from Globacom Ghana.