"The $900,000 US Dollars was paid into the GFA's account on Wednesday, November 27, 2019."
Press statement below :
November 28, 2019
PRESS RELEASE: ARBITRATION SETTLEMENT BY GLOBACOM GHANA
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.
SIGNED: COMMUNICATIONS DEPARTMENT.
Glo pays $1m debt to GFA
- Monday, Dec 02 2019
Globacom Ghana has paid its $1 million debt to the Ghana Football Association (GFA).
The GFA in a press statement said, "We 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."
Leave a comment
News and more.... (2)
Abrepo [ A/R ]: NIA urges applicants to pick up printed Ghana Cards
The National Identification Authority (NIA) begun its nationwide distribution of …
Davido’s album hits one billion streams, receives honorary plaque
Nigerian singer, David Adeleke, known by his stage name as…
Deadly clashes in India's Bengaluru over Facebook post on Prophet
At least three people have died in southern India's Bengaluru…
Ghana’s COVID-19 death toll now 223
Ghana’s active COVID-19 cases currently stand at 2,029 with a…
NPP Ashanti Regional Youth extol President for nomination of Opoku Gyamfi 'CID' as DCE
Ashanti Regional Youth wing of the New Patriotic Party(NPP), have…
SDA students boycott WASSCE twi exam
Three students of the Agona Senior High Technical School who…
Lebanon's Prime Minister Resigns, Citing An 'Earthquake' Of Upheaval After Explosion
Lebanese Prime Minister Hassan Diab announced his cabinet's resignation Monday,…