Glory Oil to invest in Ghana football

Oil marketing company Glory Oil has sent a proposal to GHALCA in a joint venture agreement to pump money into club football, SportsWorldGhana.com can exclusively reveal.

The Ghana League Clubs Association members will benefit immensely from the deal if an agreement is reached.

The Ghana FA inability to get huge sponsorship to carter for some losses being made by the clubs is causing clubs to run bankrupt.

Many football administrators have called for stakeholders’ effort to help solve the situation hence the risk of quitting the game.

Clubs in the country have cried foul on lack of sponsorship from co-operating organizations and this will come as a huge relief to them.

According to the statement available to our outfit, Glory Oil will share profit margins with Clubs following the establishment of a joint venture fuel retail outlet.

”Glory Oil wishes to partner the league Clubs to establish joint venture fuel retail outlets. The Club would provide suitable lands (At least 2 plots) that: Meet the National Petroleum Authority’s requirements and as well as have sales potential of at least 81,000 litres per month,” according to document spotted by SportsWorldGhana.com.

”Glory Oil shall construct, operate and manage the Fuel Retail Outlet and pay the agreed profit to the club on a monthly basis.”

There is also the option, that Club can provide the land and construct the fuel retail outlet on its own. Glory Oil would operate and manage the fuel station and pay the club monthly profits with a higher margin as compared to the joint venture.

SportsWorldGhana.com.source indicates, GHALCA is yet to officially respond to the Oil marketing company after two months of presenting the proposal.

Members of GHALCA have been kept in the dark concerning this deal and maybe a later meeting will be convened to brief them about this juicy deal.

Speaking to GHALCA chairman Kudjo Fianoo and Glory Oil marketing manager Ekow, both individuals asserted that they will only voice out on this issue after an official agreement is reached.