Published on Thursday, 11 July 2013 00:33
The LMC has literally hit the ground running. In its quest to restructure the league, its first task was to systematically navigate the legal minefield left by the NPL to enable the clubs play football in the premier league this season. They have started to play in this league and are now enjoying the benefits of a transparent and well organized league.
Private funds have under the auspices of the LMC been advanced to ensure the current league commenced and has been kept running after a near five-month delay occasioned by crisis of confidence precipitated by off-the-field management issues. The clubs have already benefitted from this funding and do not need to pay the emoluments of the match officials as they did in the past.
The LMC is in the concluding phase of re-negotiating the terms and conditions of the Title Sponsorship Contract as well as the Broadcast Rights Contract, both of which remain veritable sources of robust income for the participating clubs in the league, but unfortunately, has seen its true value eroded by petty squabbles and poor business judgment calls. The LMC has now brought these contracts more in line with equitable commercial terms that not only benefit the league but also are in compliance with the laws of the land.
This process of restructuring the league is ongoing. A new league rules framework which includes criteria for the qualification and licensing of clubs within the premier league to bring participating clubs in line with what they have always been meant to be, that is, responsible employers of labour able to meet all statutory obligations to its employees including paid holidays, annuities, health schemes and ensure transparent accounting standards to assure investor confidence. The new rules will guarantee that 5% of the income of the LMC is dedicated to a robust youth development program to identify more exciting new talents for the participating clubs and the country.
New windows of opportunities aligned for increased income for the participating clubs, referees and local broadcasters to partake in the robust financial fair that is envisaged.