Kumasi Asante Kotoko have been dealt a huge blow while they are down on their knees as telecommunication giants MTN have with immediate effect suspended all financial dealings to the club.
This was revealed by the club's General Manager, Akwasi Gyimbibi Coker as there is a clause in the sponsorship agreement that allows the suspension of the contract when there is a force majeure as in the instance of coronavirus pandemic which is no ones doing.
The world is reeling from the devastation the novel coronavirus has caused on economies, sporting events including football and others with the Ghana Premier League no exception.
More than 2 million person have been infected by the disease with over 180,000 persons dying in the process.
"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," Nana Gyambibi Coker told Luv FM in an interview.
"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."
He added, "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."
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