THE GHANA NATIONAL Petroleum Corporation (GNPC) has agreed to headline sponsor the country's national football team “the Black Stars” for $3 million per year.
The duration of the sponsorship, which the company says is subject to annual renewal, is expected to be between three and five years.
Explaining the deal, Nana Boakye Asafu-Adjaye, Chief Executive of GNPC, said the business case for supporting the Black Stars brand was not a difficult one.
“The Black Stars are a potent vehicle for projecting GNPC’s brand as a dependable partner in oil and gas exploration globally. The Black Stars are a perfect fit for GNPC. We both aspire to compete successfully on the global stage in a manner that impacts Ghanaians positively and profoundly,” he said.
The GNPC added that the company expects the national team to "Go for the Gold” at the upcoming African Cup of Nations tournament, go beyond the semi-finals at the 2014 World Cup and win the 2015 African Cup of Nations.
At $3 million per year the deal is among the richest in terms of African national football teams.
In August 2012, South Africa’s top retail banking brand Absa extended its sponsorship agreement with the South African Football Association (SAFA) in support of the national team until December 2013. The previous five-year deal from 2007 to 2012 was reportedly worth R100m ($5.8m) per year.
In July 2011,The Nigeria Football Federation (NFF), signed a five-year deal with Globacom, which saw the telecommunications company became the major sponsor of all of Nigeria's national teams. The deal was reportedly worth around $2.4 million per year.