Saturday, June 12, 2021

LMC declares N483m financial surplus for 2016, introduces U-15 League


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Enugu Rangers’ players celebrating their 2-1 defeat of Ikorodu United. PHOTO: LMC.

*Introduces U-15 League
*Endorses proposed Club Merchandising Scheme

The League Management Company (LMC), which organizes the Nigerian Professional Football League (NPFL), has declared a financial surplus of N483 million for the season ended 2015/2016. This is just as it has announced that the 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.

The financial report was submitted by LMC Chairman, Shehu Dikko at the Annual General Meeting (AGM) of the LMC held in Enugu on December 11, where the LMC proposal for a Youth League tournament in partnership with LaLiga that all clubs will participate in was approved.

Other resolutions at the Enugu meeting include 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 seconnd 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 LMC said.

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 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.

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