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MTN to sever ties with Cameroon football league

The telecommunication giant will end its sponsorship deal with the Cameroon Professional Football League, LFPC earlier than expected after a…

The telecommunication giant will end its sponsorship deal with the Cameroon Professional Football League, LFPC earlier than expected after a financial package was agreed, sources at the football body have said.

The deal initially worth three billion Francs CFA to run for a three-year period has been termoinated after the Professional Football league, MTN and club presidents came to an agreement during a meeting.

Accoring to the details of the agreement, MTN has agreed to pay the league 610 million FCFA for the 2018 football season and 210 million Fcfa for the 2019 season as seperation indemnity.

The indemnity will be paid in two parts; 305 million francs will be paid as first part 48 hours after the separation agreement is signed while the remaining 305 million francs will be paid on May 10.

The remaining amount( 210 million FCFA) will be paid in January 2019 as the league will take charge in distributing the money to the various clubs involved. Payments are expected to begin by this weekend according to a souce at the LFPC.

Another clause in the separation contract are; MTN will maintain its image rights during the ongoing 2018 football season but that will be reduced by 35 percent in 2019. Thus the company logo will only be incribed on the sleeve shirt instead of the front.

However, MTN will preserve the naming rights for the 2019 football season as the Football League can now begin campaigning for a new sponsor to take over from there.

 

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