Abuja - Telecommunications giant, Globacom, has tabled a cheque for N550 million for the sponsorship of the 2012/2013 Nigeria Professional Football League (NPFL).
Nduka Irabor, Chairman of the League Management Committee (LMC) of the NPFL, announced this on Wednesday to newsmen in Abuja.
Irabor said the money was paid by Globacom after it paid a hands-off ``title sponsorship right’’ compensation fee of N100 million to Total Promotions.
Total Promotions owned the sponsorship right under the Nigeria Premier League (NPL).
According to Irabor, the N550 million sponsorship money will appreciate by 10 per cent annually for the next three years when the contract will lapse.
The LMC boss said the new romance with Globacom and Total Promotions was to ensure that they had nothing to do with the NPL after the court had pronounced it an illegal body.
Irabor also said that the LMC, now registered as a corporate entity, was at liberty to do business for the NPFL.
``Both the NFL and NPL, whatever name they were called, were illegal.
``I didn’t declare that; it was the pronouncement of an Abuja Federal High Court presided over by Justice Donatus Okoruwa.
``Now, to do business and give faith and confidence to the people you are transacting business with, you need to reassure them that you are a legal entity.
``We thought that the uncertainty and instability that beclouded the league’s activities in the past impeded its revenue generation potential.
``So, we decided to find a way out of the problems and the first step was to legalise our name.
``To legalise it, we went to the original name of the league and we called it NPFL; then we called the managing company, the League Management Company (LMC).
``We have a licence of the NFA to run the league; we have their mandate.’’
He explained that the LMC board in the making, would ensure that the NPFL was run professionally like its counterparts in Europe.
Irabor said plans were being made to up-the-stakes in the NPFL to N2.5 billion in the next 18 months, as the minimum wage for a player would be expected to hit N150 000 a month.
``The LMC will have a board of directors just the way most corporate organisations do.
``We will have a Chief Executive Officer of the LMC who may or may not be a member of any club as a member of the board.
``You have to be a member of the company so long as you are a member of the league and you have to be a member of the league so long as you meet the conditions necessary to be a member of the league.
``The clubs who are automatic members of the league will sit and nominate three persons among them to be part of the governing board.
``The NFA will sit in the board as a silent observer to ensure that what we are doing is in conformity with the dictates of the statutes of football.
``We are also setting up licences for the clubs and there are conditions that a club must meet to be a premier league side; it will not be an all comers league.’’