Hearts of Oak have started taking delivery of sponsorship monies from Strategic African Securities (SAS).
The financial investment firm entered into an agreement worth Ghc 600,000 ($317, 664) annually to become the Ghana Premier League giants’ new headline sponsors.
Hearts have already started taking a monthly allotment of Ghc 50,000 ($26,472) from the deal as confirmed by club chairman Togbe Afede XIV.
“The sponsorship is to the tune of Ghc 600,000 ($317, 664) just to substitute for what MTN was going to commit it terms of cash,” he told Angel FM.
“So Ghc 50,000 will be paid monthly to the club from October over twelve months, totaling Ghc 600,000.”
SAS replaced telecommunication giants, MTN as the club’s headline sponsor at the beginning of the season.
The money will be used to cushion the club’s expenses which includes player wages and bonuses and administrative cost.