Footy-ghana.com can confirm that telecommunications outfit Globacom has reached an agreement with the Ghana Football Association (GFA) with respect to payment of outstanding arrears.

As earlier reported on footy-ghana.com, GFA President Kwesi Nyantakyi flew to Nigeria to hold crisis talks with Glo regarding the arrears and a possible extension of the contract.

Footy-ghana.com can reveal that Glo has agreed to pay the outstanding $2.2 million in three tranches; in September, October and November.

Footy-ghana.com understands that should Glo honour the latest agreement to the letter, it could secure an extension to sponsor the Premier League.

Footy-ghana.com also understands that failure to honour the agreement will leave Glo out of the running to sponsor the Premier League.