The cheque was presented to the team on Saturday afternoon at the Accra Sports Stadium by the Ghan Football Association after their coronation match against lower division side Koowa Naso FC.
The ceremony was supervised by Division One League Board Chairman Akwasi Agyemang and Eugene Nobel Noel, the Division One League Board member representing Zone 3.
Accra Lions secured the historic promotion last week when they beat Danbort FC 3-1 on the road.
They were tied on 62 points with Tema Youth but had a better head-to-head record and superior goal difference.
A club statement read: "We thank all our supporters for your continued love and passion throughout this difficult season. Premier League here we come! We are Accra Lions! Yen nyinaa dea!." Read Full Story
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