Forgot Password

 

Register

 

Create your Connect ID

This will allow you to login to all DStv websites & applications




or
Login using
x

Email Reset

 




Loading...
Loading Live Scoring...
*All times CAT (GMT+2)

Football | Nigeria

Premier League explains N50m bond



The Nigeria Premier League (NPL) has cleared the air on the proposed N50 million (around $320,000) bank bond.

Chairman of the Premier League's Interim Management Committee (IMC), Nduka Irabor, told supersport.com on Friday that the bond is "a divisible bank guarantee from the clubs" to meet their financial commitment for the 2012/13 season.

"The N50 million bond is a divisible bank guarantee from the clubs which is not in cash. Football is business. We want the clubs to show that they have the strength to be meet their financial obligation in the league.

"We don't want situations where we have to wait till a committee sits over a crisis bordering on finances. We have had situations in the league where players do not get their wages at the end of the season and this we want to avoid.

"Apart from that, there are all kinds of penalties and infraction in the league rules and regulations. For example, if a club is fined a said amount of money for breaching any of such rule and regulation and is expected to pay before their next game and do not pay and yet take part in the next game, do you think they will take the league seriously?" Irabor asked.

The Premier League committee chief also revealed that the bank bond proposal became important since a club in the top flight spend not "less than N150 million (around $959,000) per season."

"The bank bond is only for the clubs to show that they can financially cater for their expenditure that especially include wages because on the average of a season, a club won't spend anything less than N150 million per season," he said.

Irabor also explained that the Premier League had to re-adjust the ongoing Super Four fixtures owing to logistic issues.

He added that same decision was taken to put the draws for the 2012/13 season on hold.

"We had to reshuffle the fixtures for the Super Four due to logistics, which has affected the draws as well as the seminar. But the draws will hold on a later date but not in Kano," disclosed the Premier League's IMC boss.

The IMC has been saddled with the responsibility of recommending administrative solutions to running the Nigerian top flight.

Shop

Gerrard: My Autobiography
Steven Gerrard is a hero to millions, not only as the inspirational captain of Liverpool FC, but as a key member of the England team.
R152.00
Rafa: My Story
Revelatory memoir from the greatest sportsman in the world today.
R182.00
FIFA 14
Xbox 360
R549.00
Mitre Ultimatch Soccer Ball - White
A high quality football, offering high performance at both training and during football matches.
R252.00


Comments

More expert analysis and opinion from Sport24
The opinions expressed by Sport24 experts and bloggers are theirs alone, and do not necessarily represent those of SuperSport

Live Video Streaming

The Carling Black Label Cup - Kaizer Chiefs v Orlando Pirates
Netball - South Africa v Wales
Shooting - Small Bore - 50m Rifle 3 Positions Women's Final
Wrestling - Men's 55/74/120kg & Women's 48/72kg Finals

Sports Talk



Calvin Emeka Onwuka
Football arms race
Those of us old enough to remember the arms race and the cold war years can’t help but feel the...

Dr Errol Sweeney
World Cup refs return home ‘bruised’
The World Cup is over for another four years and already the post mortem has started into some...

Sunday Oliseh
What Germany did to become champs
The 2002 Japan and South Korea World Cup saw the Germans lose in the Finals to Brazil, thanks to...

Collins Okinyo
Amrouche is his own worst enemy
Thunder has struck twice with news of Harambee Stars coach Adel Amrouche being slapped with a...

Claudia Ekai
Save our Stars
First and foremost, it is not all over for Harambee Stars in the 2015 Africa Cup of Nations...

Carol Radull
The Harambee Stars' secrets
A week ago Kenya’s Harambee Stars hosted Burundi in our first international friendly this year. I...