Gateway has been paying Ghana’s top clubs 30,000 USD a year to show live matches and highlights programs on their satellite networks across Africa.
The company has been struggling, KickOffGhana.com understands to pay up its contractual obligation this year, but that is now unlikely to come after the company issued a statement today confirming it has gone bust.
It could mean a whole new process of finding a new television sponsor for the Ghana League midway through the current season.
GBS issued a statement in London on Friday suggesting the global economic meltdown has severely affected its ability to deliver and said its services will be withdrawn immediately.
“Increased instability in global markets interrupted our ability to secure funding on an acceptable timescale and have left us no choice but to cease operations,” said a company spokesman.
“We realize the negative impact this has had on our loyal customers, creditors, and staff, all of who have believed in GTV and the revolution in pay-TV it had created. We have tried every possible step to keep the company going, but we are all the unfortunate victims of the current global economic crisis.”
In addition to the potential financial distress for Ghana’s League clubs, the company’s liquidation could mean an uncertain period for the television subscribers.
Gateway’s emergence on the Ghanaian market, offering English Premiership game, top flight Italian League games and local Ghanaian League games made them a hit amongst football fans here.
