LMC declares budget surplus of N483 million

LMC chairman, Shehu Dikko
The
League Management Company, LMC has declared a budget surplus/ savings of N483
million in its 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.
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”.
Now to run a
youth league
Nigeria
Professional Football League (NPFL) clubs will from the coming season raise
youth teams for players aged 15 years and below to compete in the new NPFL
Youth League.
This
youth league will be in partnership with LaLiga and it is expected that all
clubs will participate in it.
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”
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.
The
League has also endorsed a new bonus/incentives structure as proposed by the
LMC as well as approved 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.
“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 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
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 Matchday 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 Matchday.
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

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