Asante Kotoko have been hit hard by the Covid-19 pandemic as Telecommunications giants, MTN have suspended all financial obligations to the club with immediate effect.
This decision was arrived by MTN after a clause in the sponsorship agreement that allows a suspension of their obligations in the event of a force majeure - in this case, the COVID-19 pandemic.
The Covid-19 pandemic has seen football activities in Ghana grind to a halt with only 15 matches of the first round of Ghana Premier League played.
The GFA in March suspended the league until further notice due to the pandemic. Ghana's case count is 1154 with deaths and 99 recoveries.
“It is stated categorically in the contract with MTN that any time there is closure led by a force majeure it means the contract can either be terminated or suspended. There is a letter from MTN to Asante Kotoko claiming they are suspended all their financial obligations to the club, this is in conformity of a clause in the contract that allows them to do so,” Nana Gyambibi Coker told Luv FM,
Coker also lamented the situation and explained what it means for the club’s financial standing.
“There will be serious difficulties in terms of the club’s financial situation. Coupled with the absence of football, Kotoko is not making any revenue which will make it difficult for club to fulfill its financial obligations to whoever the club is in contract with”
”This and many other reasons are why we have been engaging employees of the club especially the playing body to accept pay cuts so that the club can be taken care of and sustained in this hard times”