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Soccer News of Wednesday, 18 September 2013

Source: Finder Sports

MTN to renew Kotoko contract

Finder sports investigations reveal that after a crunch meeting between the new Kotoko Board and officials of Scancom Limited (MTN), the two parties have agreed to renew their sponsorship agreement.

It will be recalled that Dr KK Sarpong led Kotoko signed a two and half years sponsorship agreement with MTN which ended in August this year.

Finder Sports can confirm that Dr Sarpong started the negotiation process for a contract as per the renewal clause in the earlier sponsorship agreement which provided that three months to the expiry of the contract, a party interested in the renewal of the contract must initiate the process.

Many had feared that with the exit of Dr KK Sarpong who was the executive Board Chairman of Kotoko, talks for a renewal of the contract was in jeopardy.

The new Kotoko Board headed by Lawyer Adu Gyamfi and MTN has picked up the negotiations from where Dr Sarpong had reached.

Finder Sports can reveal that at the crunch meeting between Lawyer Adu Gyamfi and Mr Apiagyei representing the Kotoko Board and top officials of MTN at the Ridge Tower head office of MTN, the two parties agreed on all the key areas of the deal which will see the MTN logo embossed in front center of the Kotoko jersey for the next three (3) years.

The closure of the deal comes as a big relief to Kotoko who depend heavily on the cash component for payment of player salaries and other vital expenses of the club.

Finder Sports investigation can reveal that the deal is worth over a whooping three million Ghana cedis (GHc 3,000,000) in direct cash and MTN products.

As part of the deal Kotoko stands to benefit from a bonus package if they win any the CAF Competitions, the Ghana premier league and the MTN FA Cup.

The deal also has a component for special projects which must be beneficial to both MTN and Kotoko.