The government of Ghana has outlined the primary sources for the newly introduced Sports Development Fund.
According to the Spokesperson to the President of the Republic of Ghana, Felix Kwakye Ofosu, a proposed Bill was sent to Cabinet and approved for the establishment of a Sports Development Fund.
Following the establishment of the Sports Development Fund, the government has also revealed the sources for the initiative.
The sources include:
a) Allocations approved by Parliament
b) Proceeds from special sports lotteries
c) Grants/Gifts /Donations/ Sponsorship and other voluntary contributions
d) Percentage of revenue or tax from Sports Betting Companies
e) Percentage of gate proceeds from sport activities
f) Percentage of proceeds from transfer of athletes in Ghana and of Ghanaian Athletes abroad
g) Percentage of proceeds from sponsorships of sporting activities
h) Percentage of support from international federations for local federations
i) Percentage of financial gains of national athletes and Ghanaian athletes
j) Percentage of proceeds accruing from competitions and tournaments
k) Percentage of proceeds accruing from certification of athletes, Sport federations, sport professionals, sporting clubs, sport equipment, and other sport logistics
l) Percentage of taxes and import duties of commercial sport vendors
m) Proceeds accruing from investments of the fund
n) Any monies or properties that may in any manner become lawful, payable and vested in the board of trustees for the fund
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