SEVERAL British businessmen have formed a consortium of investors and indicated a willingness to invest $1.5bn in the Nigeria Professional Football League (NPFL) as part of a major development plan.
Sports minister Solomon Dalung disclosed that the UK-based sports promotion and marketing group known as Arabella 21st Century, made the proposal during a visit to his office in Abuja. He added that it is the same thing they did in China and Japan and are now expanding into Nigeria.
Mr Dalung said: “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.
"The league board will operate with the Nigerian Football Federation (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.”
Femmy Carrena, the chairman of the consortium said: “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% of the $1.5bn.
“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."
He added that 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 League Management Company (LMC) and the NFF. When the deal is established, Nigeria's national teams are expected to benefit from training and subventions.
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