LMC Declares Financial Surplus of N483m for 2016

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  •  Introduces NPFL U-15 Youth League

Duro Ikhazuagbe

As a result of the good governance structure in place in the running of the Nigeria Professional Football League (NPFL), the League Management Company (LMC) has declared a surplus/savings of N483 million in its operations for the 2015/16 Nigeria Professional Football League (NPFL) season.

This revelation is contained in the Financial Report of the LMC submitted by its Chairman, Shehu Dikko, at the league body’s Annual General Meeting (AGM) held in Enugu on Sunday, December 11.

In one of its 22 points resolutions, the AGM made up of the 20 NPFL Clubs, the Nigeria Football Federation and LMC Independent Directors, noted that it received a detailed presentation of the LMC income and expenditure report from the 2015/16 season which was approved at the 2nd AGM in Uyo, Akwa Ibom State in February, 2016.

“The outline of expenditure report shows actual income receipts for 2016 of N2.831 million as against the N2.112 million expected guaranteed revenues and N4.817 million projected gross revenue while actual expenditure budget for year 2016 stood at N2.347 million as against budgeted expenditure of N3.260 million for the season.

“The financials for 2016 season therefore show a surplus/savings of N483million which has been carried over to form part of the revenues for the 2016/17 to facilitate early commencement of the season,” the financial report explained.

As a way to further boost the integration of youth into the professional league and also constitute talent reservoir base for club-sides, LMC has ordered that from the coming season all the teams in the topflight are to raise youth teams (aged 15 years and below) to compete in the new NPFL Youth League tournament in partnership with LaLiga in furtherance of the partnership agreement between the two leagues.

The league would be fashioned after the ‘LaLiga Promisas’ with Laliga serving as technical partners.”

It went further to state that clubs are expected to employ young coaches for the youth teams and in line with the collaboration with Laliga, the Spanish league will provide Technical Assistance by sending coaches who will train the youth team coaches before the start of the league.

Other high points of the AGM resolution include the endorsement of a new bonus/incentives structure as proposed by the LMC.

The new bonus/incentive structure will see clubs earn N500, 000 for an away win, N200, 000 for an away draw and N250, 000 for attracting over 5000 fans to watch home games. There is also a N200, 000 monthly stadium maintenance support and N100, 000 for dressing three Youth players (U-18) in a Match-day squad with one of the players having a play time of 15 minutes while N200, 000 will be paid to a club that fielded such youth players with one playing for 45 minutes on a Match-day.

On club merchandising proposal by the LMC, it was agreed that teams deploy part of their revenue from source for payment of clubs’ jersey replicas.

“The meeting approved with enthusiasm, the club merchandising proposal by the LMC Board to pay part of the funds due to clubs in kind through the supply of clubs official replica jerseys. The clubs are to sell the replicas to fans to recoup the money and also drive passion in club supporters. The meeting noted this scheme would jumpstart and open club merchandising market and create new revenue streams for the clubs”.

The newly elected Directors to represent the clubs on the LMC Board are; Paul Bassey of Akwa United, Chief Emeka Inyama of Abia Warriors, Mike Idoko of Lobi Stars, Emmanuel Aiyeyun of MFM, Alhaji Danarewa Kurfi of Katsina United and Alhaji Isa Musa Matori of Wikki Tourists. Their election is in line with article 13 and 14 of the LMC Governance structure