Ghana Premier League side, Accra Great Olympics, sealed an $810,000 sponsorship deal with McDan Group of Companies in Accra last Saturday.
The contract is worth $270,000 per year for three years, totalling $810,000 for the entire duration of the contract.
Per the details of the contract, the club will receive $100,000 cash per season, with the rest being tied to performance-related clauses.
Olympics will also be rewarded with a $100,000 in addition if they win the league, $50,000 if they win the FA Cup and $20,000 if they finish in the Top 4 of the Ghana Premier League.
Another clause in the contract stipulates that McDan Group will invest a further $10 million into constructing a 30,000 seater stadium for Olympics if they succeed in competing in Africa and winning the CAF Champions League.
Speaking at the ceremony, the president of the Ghana Football Association, Mr Kurt Okraku, stressed the need for Olympics to maintain a mutual relationship with McDan Group and commit to the contractual agreement.
"Managing a partnership relationship with corporate Ghana is essential. It important you commit to your part of the agreement, while the organisation does its part unless it may not be forever when there is a breach" he said
He further added that sponsorship was a key revenue stream for football and entreated other corporate bodies to support the development sports in the country.
He expressed his utmost gratitude to MacDan for his unflinching support and contribution to the development of sports.
The Chief Executive of the McDan Group, Daniel Mckorley, said his outfit was ever ready to do more for the club if they were able to live up to the task.
“I expect Great Olympics not to disgrace me. I expect them to perform; and I expect them to respect the brand, the sponsor and the sponsorship package,” he said.
“I don’t expect them to take this brand for granted. The brand alone has a lot of respect and now that we sponsor them, they must behave like McDan,” he concluded.
The head coach of Olympics, Annor Walker, expressed gratitude to the McDan Group for the sponsorship and said the deal had come at the right time for the club.
“This came as a surprise and at a time that the club really needed a sponsor. I am very happy because this will motivate me and the players to do more than we have done before. Whenever there’s support it motivates people to do more and this will really push us to achieve greater things,” he added.
The deal was announced at a well-patronised event at the Accra Metropolitan Assembly Conference Room in Accra, with many former Great Olympics players and former international stars such as Stephen Appiah, Laryea Kingston, Augustine Ahinful, Emmanuel Armah ‘Senegal’.
The Youth and Sports Minister, Mustapha Ussif, was also present to grace the occasion.
The deal was brokered by Robert Coleman of Wembley Construction, who declared his intention to help other clubs acquire corporate sponsorship.