The over the counter securities trading platform, NASD OTC Securities Exchange and the League Management Company, LMC, have signed an agreement on a relationship that will open up the potential of the capital market to the professional football clubs in Nigeria.
At the signing of a Memorandum of Understanding, MoU between both parties in lagos on Wednesday, July 13, they committed to a mutual and partnership, kicking off the process that will see emergence of innovative financing solutions for football clubs and the listing of football clubs at the stock market.
Managing Director, NASD Plc, Mr. Bola Ajomale, said the partnership marks the beginning of merging of financial and sporting interests in an unprecedented step.
He said, while it is not often that securities markets and football are discussed in the same conversation, but the merging of sporting and financing interests could lead to several possibilities that will improve the fortunes of the sporting world.
He noted that that like any other commodity, football clubs have rising and falling fortunes and can live or die depending on the foresight of the managers, which underlines the need to not only look at the passionate side of soccer but also the business side.
League Management Company Chairman, Shehu Dikko, said the signing of the MoU was a historic step that signposts its vision of providing strong structures for Nigerian professional football clubs.
According to him, there is the need to standardise the football clubs in line with the global trend, in a partnership that will pursue joint interest in development and promotion of professional football league and create financing opportunities for the football clubs.
