Sponsors Avoid NPFL As LMC Debts Rise To 186 Million Naira
It has been gathered that sponsors will continue to stay clear of the Nigeria Professional Football League (NPFL) because of the mounting debts of the League Management Company (LMC).
InsideGlasshouse.com has gathered that interest alone on a bank loan taken by two top LMC directors has reached a staggering 186 Million Naira.
This was after the two directors put up their personal properties to secure a bank loan for the LMC.
But it has now been gathered that interested sponsors are wary of backing the domestic league on account of the huge debt exposure of the league organisers.
“The sponsors do not want their money to be used to service the debts of LMC,” a source informed insideglasshouse.com
The LMC is also yet to clear the indemnities of match officials from last season as well as other suppliers and it has not paid secretariat staffers for many months.
The NPFL suffered a major setback when SuperSport TV pulled out as broadcast sponsor in 2017.
The LMC is yet to explain this withdrawal several years after.