The Ghana League Clubs Association (GHALCA) has secured a financial package for the 16 Premier League clubs through a special tournament which has Kinapharma Ghana Limited as the major sponsors.

The month-long competition dubbed ?Kinapharma Fine Life Knockout Tournament? will see each club becoming ?15m richer as participation fee from the ?400m sponsorship fee voted by Kinapharma.

In addition to that, Barclays Bank has offered to provide a ?40m loan facility to each participating club, while away teams will be guaranteed a quantity of fuel to be supplied by Shell Ghana Limited.

According to the Administrative Manager of GHALCA, Mr Kudjoe Fianoo, the move was initiated by the clubs? welfare body to help members meet their financial obligations in the absence of the Premier League.

In an interview with the Graphic yesterday, he said the tournament, scheduled to start at the end of the month, was also aimed at keeping players of the various teams in shape till the resumption of the league in September.

He disclosed that the tournament would be on home and away basis from the one-eighth stage to the semi-finals, save the grand finale which has been fixed for the Accra Stadium.

In their capacity as the nation?s top four clubs currently, Kumasi Asante Kotoko, Accra Hearts of Oak, King Faisal and Liberty Professionals have been seeded for the draw which is expected to be telecast live on GTV tomorrow.

The lucky winner takes home a ?30m cash prize, with the runners-up consoling themselves with ?20m.

As a further incentive, the home clubs will be entitled to a 40 per cent share while 30 per cent goes to the away team.