Six teams have confirmed their participation in the Otumfuo Invitational Tournament expected to kick-start on December 11, this year.
The teams are Enyimba FC of Nigeria, Kumasi Asante Kotoko, King Faisal and AshantiGold from Ghana, Asec Mimosa of Cote d'Ivoire and ASFA Yennega of Burkina Faso.
Mr Edward Yigah, Chief Executive Officer (CEO) of Phenix Consult, organizers of the tournament, announced this at a press conference in Kumasi on Friday to throw more light on the competition.
He however said that details of the tournament would be announced at the official launch of the competition on Friday, December 2.
Mr Yigah said a clause that would compel the teams to feature their first choice players would be embodied in the contract to be signed by the participating teams.
The tournament, he said, would attract a participating fee of 15,000 dollars.
He said the winning team would receive 30,000 dollars with the runner-up taking away 20,000 dollars while the third placed team will receive 15,000 dollars with the fourth team receiving 10,000 dollars.
Mr Yigah said each match would be preceded by a press conference to give the media the opportunity to ask questions relevant to the match, as part of the promotion of the said match.
He disclosed that Fox FM, Kessben FM and Kess Radio had been given the broadcast rights and therefore asked other radio stations to negotiate to have the right to broadcast the matches and warned that any radio station, which would run commentary without any right would be prosecuted.
Mr Yigah asked the media to be circumspect in their reportage of the tournament so that they do not publish statements that will negatively affect the office of the Asantehene whose name has been associated with the tournament.
He said his company has been overwhelmed by the response so far received from potential sponsors and that pledges in cash and products have been made and that Coca-Cola, the giant in non-alcoholic beverage industry was the latest.
Mr Yigah also hinted that two giant mining companies, a telecommunication service provider and two banks would constitute the pool of sponsors of the event and their names would be officially announced next week Friday.