SHOCKER: GFA shouldering gov’t’s Ghc36m debt to National teams

Tue, 30 Sep 2014 Source: Kwame Ntim

In an interesting development, it has emerged at the Justice Dzamefe Commission investigating issues surrounding Ghana’s appearance at the World Cup that the GFA has on its own spent a whopping 36million Ghana cedis (360 billion cedis) since 2006 on the various National Teams as a result of government’s refusal to fully fund the National Teams as is mandated.

This shocking information was disclosed by GFA President Kwasi Nyantakyi on the first day of his appearance at the Justice Dzamefe Commission.

Responding to questions surrounding the failure of the government to pay Coaches of the other National teams, aside the Black Stars, the GFA Boss stated that though the GFA had an agreement with the government to pay Coaches, government had so far relinquished that duty. He stated that the Coaches of the other National Teams were in total owed $293,000 by the state. He said because of government’s refusal to pay, the FA has been settling these debts, noting that so far, the FA had paid $117,000 to the coaches.

The President further revealed that in total, the FA has spent 36 million on the various National Teams since 2006, a burden which should have been fully borne by the government. He noted that the GFA had been able to bailout the government to this huge tune because it had earned some 34.4million Ghana cedis from sponsorship monies which accounts for 74% of all the revenue the GFA receives and monies from friendly matches which accounts for 17% of all the monies the GFA receives.

“My Lord, I can reveal that since 2006, the GFA has spent as much as 36million Ghana cedis on National Teams. The GFA has been able to do this because of sponsorship monies which account for 74% of our revenues and monies from friendlies which account for 17% of our revenues. These revenues have totaled about 34.4 million Ghana cedis since 2006,” Nyantakyi said.

He noted that the GFA after spending all the monies from sponsorship and friendlies, was still riddled with a deficit of over 1million Ghana cedis which it had financed through contributions of clubs, fines and other monies the FA received from player transfers for example.

The GFA Boss suggested that these monies the FA had been forced to pump into the National Teams was part of the reason the FA didn’t have enough to invest into Club football, a reason why club owners were suffering.

Kwasi Nyantakyi also disclosed that all the amounts the FA was spending on the National Teams was known to the government since the FA was audited every year by the Auditor Generals department.

Source: Kwame Ntim