Nine NPFL Clubs Get Financial Advisors ahead of Listing on Capital Market

Duro Ikhazuagbe

The nine Nigeria Professional Football League (NPFL) clubs aspiring to be listed at NASD’s Over The Counter (OTC) trading on Tuesday met with financial, banking and legal advisors that will make the dream of financial independence come true for the topflight teams owned by state governments except one.

At a parley inside the conference room of the Westwood Hotel on Awolowo Road in Ikoyi, Lagos, the nine clubs — Shooting Stars, Kano Pillars, Enyimba, Rangers, El Kanemi, Gombe United, Wikki Tourists, Abia Warriors and MFM FC — were introduced to representatives of the various issuing houses. Only MFM FC is privately owned.

All the teams were nominated by the League Management Company (LMC) for the process at it’s last annual general meeting.

NASD Plc is the promoter of a trading network that eases secondary market trading of all securities of unquoted public companies primarily in Nigeria. It is part of its brief to help the mostly cash starved clubs stimulate growth by easing the capital raising process.

Speaking at the event, the Chief Executive Officer of the LMC, Hon. Nduka Irabor, called on the clubs to take full advantage of this interesting development to become financially independent.

“When we took over the administration of the league few years ago, clubs were having less than 2,000 fans but all that has changed today. Teams like Kano Pillars, Rangers International of Enugu and Shooting Stars consistently attract huge spectators at their centres. Kano Pillars’ home games attract no less than 25,000 fans to the Sani Abacha Stadium weekly,” revealed the LMC chief.

The former member of the House of Representatives however stressed further that of these fans, only very few could boast of having the replica jerseys of their darling clubs.
“Merchandising is key for financial success. What is the essence of having huge fans if the clubs 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,” reasoned Irabor.
He also stressed why the NPFL clubs need to get out of their present financial predicament.
“I have been in a room with two governors and talked for 45 minutes on how to invest in football but they didn’t understand.

“These governors need money to fix roads, potholes, leaking school roofs. They don’t have the luxury of throwing money into football beyond what they are doing now. They need men like you (financial advisors) to assist the clubs grow,” he concluded.

The Managing Director of NASD, Bola Ajomale, advised the representatives of the clubs to be ready to follow all the template for them to be listed.
“There must be accountability and transparency. The teams must all be duly registered like any other corporate body. The issuing houses will guide the teams accordingly,” Ajomale said.

Officials of the 18 leading issuing houses, who were shortlisted to act as advisors for the clubs, were also present at the meeting where they commended the efforts of the LMC over the proposed listing of nine of the 20 clubs in the NPFL.

The Nigeria Football Federation’s (NFF) First Vice-President, Seyi Akinwunmi, also commended the LMC and declared that: “Football has come of age today.”
Some of the issuing houses at the meeting included Finmal Financial Services Limited, Cowrie Assets Management Limited, Fundvine Capital & Securities, GTI Capital, Afrinvest Securities, Bestworth Assets & Trust Limited and Capital Assets Limited.