Nigerian Telecommunication Network Globacom have paid $1,000,000 to the Ghana Football Association as arbitration settlement.
Glo, headline sponsor of the Ghana Premier League some four seasons ago could not oblige by its part of the deal canceling 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.
The Ghana Football Association confirmed on its 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.