The LMC who are organisers of the NPFL are taking steps to get a couple of clubs on the capital market list.
The LMC who are organisers of the Nigeria Professional Football League (NPFL) are taking steps to get a couple of clubs on the capital market list.
On Tuesday, April 4, officials of Enyimba, Kano Pillars, Enugu Rangers, MFM FC, Wikki Tourists, Shooting Stars, El-Kanemi, Gombe United and Abia Warriors met with financial, banking and legal advisers in Lagos.
Eight of the clubs were nominated at the last Annual General Meeting (AGM) of the LMC while Abia Warriors chose to participate in the pilot scheme.
The appointment of the advisers is pursuant to the Memorandum of Understanding signed by the LMC and NASD OTC Securities Exchange which has a lead objective of opening the NPFL clubs to the investment from the capital market and also reducing the government total ownership of some of the clubs.
According to Chief Executive Officer of the LMC, Nduka Irabor, this scheme will open the clubs to create more jobs and make more money.
“Teams like Pillars and Shooting Stars consistently attract huge spectators to their venues but they have to make this count in many ways, especially in merchandising,” Irabor said.
“What is the essence of having huge fans if we cannot seize the opportunity to make money from this?
“We are now opening up ownership space to create more jobs, more money and also better professionalism in the running of football generally.
“Manchester United, Arsenal, Liverpool and Chelsea are not owned by Englishmen but foreign investors. That is what we are looking at in the future.”
The LMC have shortlisted 18 leading issuing houses to act as advisors to the NPFL clubs.
Some of the issuing houses include Finmal Financial Services Limited, Cowrie Assets Management Limited, Fundvine Capital & Securities, GTI Capital, Afrinvest Securities, Bestworth Assets & Trust Limited and Capital Assets Limited.
Also shortlisted were Investment One Financial Services Limited, Lead Securities & Investment Limited, Futureview Securities, ICMG Securities and WSTC Financial Services. The rest are Capital Bancorp PLC, Greenwich Trust Limited, MBC Securities, Africa Prudential Registrars PLC and United Securities Limited.