The Ghana National Petroleum Corporation (GNPC) is now the official headline sponsor of the Black Stars after the state-owned oil firm on January, 4, 2013 signed a three to five year deal worth $15 million with the Ghana Football Association (GFA).
The GNPC becomes the first state-owned Ghanaian firm to sign up as sponsor of the senior men’s soccer national team.
“A $3 million per year contract for a period between 3-5 years was signed between the GFA and the Corporation,” the FA said indicating that the contract is renewable.
Both the GNPC and GFA have agreed to operate a joint account called ‘The Black Stars Trust’ with signatories from both sides, and also form a six-member joint implementation committee (three representatives from each side) to oversee and ensure the smooth running of activities and furnishing both parties with reports.
These, according to officials, will ensure accountability and transparency in the operations of the deal.
By Ekow Quandzie