LMC Left Behind Over N5 Billion Debt - Official

LMC Left Behind Over N5 Billion Debt - Official

By Admin

The defunct League Management Company (LMC) left behind debts running over 5 Billion Naira, several officials disclosed to Insideglasshouse.

The LMC, which organised the NPFL for 10 years, was scrapped by the Federal Government in September 2022 for being illegal.

It has now been revealed that the previous league organisers owe various vendors as well as several years’ rent for their office in Abuja.

This was despite the fact that it received a staggering $50 Million from SuperSport TV and the likes of Next TV and Red Strike TV.

The LMC also failed to pay the clubs any percentage from sponsorships or prize monies for the past six years.

The Interim Management Committee (IMC), which replaced the LMC, has therefore been bombarded with various notices for pending payments from those owed money.

One of the companies, Next TV, has demanded for 2 Billion Naira compensation from the IMC.