December 2, 2020

SOKY NEWS

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Puma reduce financial package in GFA sponsorship

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The financial package agreed between the Ghana Football Association (GFA), and Puma, kits sponsor of the country’s teams, has been reviewed downwards,....

The financial package agreed between the Ghana Football Association (GFA), and Puma, kits sponsor of the country’s teams, has been reviewed downwards, Joy Sports can reveal.

The agreement has been cut by about 30%, our checks indicated.

Persons with knowledge on the development say the decision by the German kit manufacturer to review the agreement was necessitated by the negativity that surrounded Ghana following the premiere of the ‘Number 12’ investigative documentary on corruption and match-fixing in June 2018.

Per Joy Sports’ understanding of the deal agreed between the Ghana FA and Puma, there were three benefits of the contract:

• To supply or provide kits up to a €500,000 per year and a financial contribution of €800,000 per year under the last contract.

• There were other benefits at major competitions like Africa Cup of Nations (AFCON) where at every stage, there was a benefit of about €100,000 to €200,000 or more, depending on the stage the team reached.

• If Puma spent €500,000 to produce kits when sold, Ghana FA earned about 8% from the sales.

This agreement expired in August 2018 because Puma contracts with the GFA were scheduled to expire in August of World Cup years, sources said.

It would be recalled that the Normalisation Committee (NC) renewed the contract, but Joy Sports understands Puma was not convinced to keep to same terms.

Executive Council member, Nana Oduro Sarfo, speaking to Joy Sports, would not confirm the percentage reduction, but corroborates the change in figures.

“We have renewed our partnership with Puma. During the era of the [Normalisation Committee], it was renewed with the same duration of four years as it was [previously],” Oduro Sarfo said.

“The figures have changed a little because of the exposé, because of sales, because of popularity, but we [the new FA administration] have been there to speak to them and we will see how we can come back to that level [we used to be].”

A GFA delegation, headed by President Kurt Okraku, met the kit sponsors in January and made proposals for assistance on youth and infrastructural development.

Source: Myjoyonline

Sokynewsgh.com / SOKY TV / Ghana

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