Banks DIH satisfied with GFL’s accountability
- to maintain sponsorship
By Steve Ninvalle
Stabroek News
June 12, 2002
BANKS DIH is satisfied with the accountability of the Georgetown Football League and will be sponsoring the 2002 season.
The governing body for football in Georgetown came in for praise from Managing Director of Banks, George McDonald who said that the GFL’s capability in accounting for funds was a key reason why the beverage conglomerate had decided to maintain the sponsorship.
Banks renewed its relationship with the GFL last year and has made a commitment to continue its sponsorship during 2002. In an exclusive interview with Stabroek Sport, McDonald noted that apart from other areas, accountability was of importance.
"There are several reasons (why we continue sponsorship of the league). There is a commitment from this company towards the development of sport. Our partnership with the Coca Cola company allows us to do that. We were satisfied with the level of accountability the last time around," the managing director stated.
"Some years ago I had stated that we would reconsider our support of football because of the problem of accountability. I can’t say how many people took us seriously but one must realise that Banks DIH Limited is one of the hallmarks of corporate bodies in Guyana. Accountability is one of the things that is in the forefront of this company. If I give out money to organisations it is expected that those organisations will follow the rules of accountability," McDonald said.
"I have not been able to examine the books of the GFL but I have seen the auditor’s report which is important. We are comfortable with the GFL’s accountability. Certainly the GFL has a long way to go but I think that they are on the right track and we will continue to support them," McDonald added.
Last year Banks sponsored the league to the tune of $1.8M after being away for some time. It was the largest deal that Banks had brokered with the GFL in its history.
However, McDonald declined to divulge the amount his company is to pump into the league this year.
"At the moment I don’t want to indicate the level of sponsorship. The quantity of funding is still being discussed. The GFL has asked for significantly much more than last year. I have not given them a commitment that I will be able to fund it to that extent but we have a commitment to sponsorship," the managing director said.
In an invited comment president of GFL, Christopher Matthias expressed gratitude to Banks DIH for staying with the league and promised that accountability will remain one of the hallmarks of the sub association.
"We are indeed happy that such a respected company as Banks DIH has decided to stick with us and are indeed gratefull for their support of football in Georgetown," Matthias said.
McDonald explained that funding for sponsorship comes from the company’s advertising budget and Banks carefully assesses each request for sponsorship before engaging in serious discussion.
"We have been sponsoring a lot of sporting activities, including cricket, football, motor racing, table tennis and Bartica Regatta (among others) and we don’t discriminate. The bulk of our revenue comes from domestic sales," McDonald stated, adding that some of the revenue is ploughed back into sport.
"The problem is that we have been putting money into things and they have not been going anywhere except for a few sports like cricket and football, which is now coming out, there is not much more to talk about. Funding has been going and there has been no progress. It is not funding for the sake of funding. You back winners," McDonald declared. "If you don’t win or make the effort to win it is going to be difficult to get continued sponsorship." In concluding McDonald stated that acquiring Presidential Adviser Odinga Lumumba as patron of the GFL should be a plus.
"We have also worked with Mr. Lumumba who was one of the better boxing promoters. We go back a long way and can vouch for his ability to run an event. We hope that Mr. Lumumba can put his skills to practise in the GFL."