Asante Kotoko Suffer Another Causality As MTN Suspends All Financial Obligations
Ghana's biggest telecommunications network MTN have suspended all financial obligations to Asante Kotoko with immediate effect.
Football activities in the country has come to a standstill following the outbreak of coronavirus.
The deadly disease has so far infected over 2.5M people worldwide, killing over 183,424.
This unfortunate news was made known by General Manager of the club, Yves Nana Gyambibi Coker.
“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," he told Kumasi based Luv FM.
"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.
Coker lamented the situation and explained what it means for the club’s financial standing.
“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 fulfil 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," he added.
Multiple reports suggest 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 COVID-19 pandemic.