UK businessmen set to invest $1.5bn in NPFL

By Daily Sports on November 1, 2016

A consortium of investors from the United Kingdom has indicated interest in investing 1.5 billion dollars in the Nigeria Professional Football League, sports minister Solomon Dalung has revealed.

In a statement, Dalung disclosed that the UK-based sports promo and marketing firm under the auspice of Arabella 21st Century made the proposal during a visit to his office in Abuja.

“Yes, they want to bring in about $1.5bn into Nigerian football, but there is a caveat to it. They are not going to tamper with the constitution, statutes or football article,” said Dalung.

“It is the same thing they did in China and Japan. The league board will operate with the NFF and the Ministry will be involved.

“They want to set up a Football Development Company that will be quoted on the stock exchange, with the same applying to all the football clubs in Nigeria.”

Chairman of the firm, Femmy Carrena said his team of investors was ready to invest in the country’s league for the next 20 years with core restructuring but on few conditions.

“They want to come to Nigeria and manage our league for the next 20 years. After a meeting with the ministry and other stakeholders, they’ll set up the company but their Nigerian counterparts are expected to invest 30 percent of the $1.5bn,” he continued.

“They’re ready to put their own money into the stock exchange, but they’ll have the controlling share.

“They will restructure the league, get the television rights but not before a conference which will explain to everyone how it will work.

“They will be coming with technical experts from the premiership that will be operating in the development company that they will set up, which will include representatives of the ministry, the LMC, and the NFF.”

When the deal is established, the country’s national teams are expected to benefit from training and subventions. The League Management Company (LMC) had recently urged domestic clubs to register with the Nigerian Stock Exchange. (goal.com)

•Photo shows Enugu Rangers

Source Daily Sports

Posted October 31, 2016


 

You may also like...
No Grudges With Uefa — Man City Chairman...

Abraham Returns With Goal, Assist In Chelsea Win...

Bet9ja ready to shake Edo State with 1m...

Project Mbappé: Stop pushing kids to be like...

I’ll fight Joshua in UK but he’ll have...

Stanley Eguma’s Kidnap And The Signals That Will...

 

Latest News Lagos SWAN Appoints SWANECO As Buildup To Election Begins Esther Okoronkwo: Canadian club hails Super Falcons star who stepped up when it mattered in WAFCON final Super Falcons Over Ran Morocco In Grudge Comeback Game Confirming Mission X Isak situation has to be right for Newcastle - Howe Hojlund's fight to answer Man Utd's striker question Inter to make €45m Lookman offer next week Man Utd won't sell players on the cheap - Amorim Players fear consequences of speaking out - Fifpro Messi ‘very upset’ after MLS suspension for All-Star no-show WAFCON 2024 Finale: The Grudge Game Of Wits, Brawns Ensues As Hosts Morocco Dares Nigeria Late Drama as Morocco Files Shock Petition to Disqualify Nigeria’s Plumptre & Alozie Hours Before Final Newcastle consider Sesko amid Isak uncertainty

 

Most Read Rangers International going, going . . . (55,596 views) Amaju Pinnick: A cat with nine lives (46,766 views) Second Term: Amaju Pinnick, Other NFF Heavyweights Home to Roost •How Pinnick Broke the Jinx (44,765 views) Missing $150,000 IAAF Grant: Solomon Dalung’s Hide and Seek game (44,360 views) Current issues in Nigerian sports: Matters arising (44,357 views) Sports Development: Zenith Bank on the zenith (44,343 views) Gov. Abdullahi Ganduje’s solid footprints, commitment to sports development in Kano State (44,159 views) NFF Presidency: Pinnick, Maigari, Ogunjobi, Okoye in Battle for Supremacy (43,707 views) Olopade, BET9A wave of revolution in NNL (42,806 views) Commonwealth Games 2018: Shame of Muhammadu Buhari, Solomon Dalung (41,426 views) Ibrahimovic’s Man U exit: Whose decision is it? And in whose interest? (39,859 views) John Mikel Obi: Segun Odegbami’s Outrageous Call! (39,290 views)

 

Phone numbers

Tel: +234(0)8066020976
+234(0)8055068145
+234(0)7013416146
+234(0)8094272884

Email addresses

info@dailysportsng.com
support@dailysportsng.com
publisher@dailysportsng.com

Office address

No 3, Adetoun Close, Off College Road, Ogba, Ikeja Lagos.
Website: www.dailysportsng.com

Social Media