LMC Declares N483M as Savings From 2015/2016 Season

LMC Declares N483M as Savings From 2015/2016 Season

As we look forward to the new football season which commences January 15th, the League Management Company (LMC), has declared that it has in its kitty as surplus/ savings of about N483 million from operations for the 2015/16 Nigeria Professional Football League (NPFL) season.

This was contained in the financial report submitted by the Chairman of the LMC, Shehu Dikko and accepted with commendations at the Annual General Meeting (AGM) of the LMC held in Enugu on Sunday, December 11. Other high points of the AGM resolution include the approval of the LMC proposal for a Youth League tournament in partnership with LaLiga that all clubs will participate in, the endorsement of a new bonus/incentives structure as proposed by the LMC, approval of the club merchandising proposal by the LMC to deploy part of the clubs’ revenue from source for payment of clubs’ jersey replicas and the election of clubs’ representatives to serve on the LMC Board.

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.

It went further to state, “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”.

Moreso, League clubs will from the coming season raise youth teams for players aged 15 years and below to compete in the new NPFL Youth League.

On the Youth League, the AGM resolution noted, “The meeting approved LMC proposal to start a Youth League Competition for U-15 among NPFL participating clubs in association 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”

The youth league is a step in the right direction as this is what is obtained in other climes which largely contributes to the development of each club and the nation as a whole.

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