The League Management Company (LMC) has budgeted N1.2 billion for the execution of its activities for the 2013/2014 Nigeria Professional Football League (NPFL) season.
The LMC Chairman, Nduka Irabor, who disclosed this in Abuja said the premier league would kick-off on March 7 as scheduled.
Irabor said the N100 million clubs participation guarantee fee by each club now be paid in quarterly installments of N25 million.
The fee is one of the requirements introduced by the LMC for clubs to register for the new season.
“Performance guarantee is not an exchange of cash; it’s a confirmation that, indeed, you are not taking players for a ride because you want to boost your ego.
“You can assemble any number of players you want in your club, but do you really have the means of paying those people.
“The only person the players can go to is the league manager.
“So, before they come to you to say we haven’t been paid; we have been taken for a ride, you put in place things that make sure we can intervene.
“So, to qualify you to play in the league, convince me that you have the financial ability; the person to convince me is the club proprietor. The proprietor’s mere word is not good enough.
“He has to go the bank where he keeps his money; the bank will issue a letter that the person has this amount with us or has the ability to generate this kind of money,’’ Irabor said.
The LMC boss said that any defaulting club would forfeit six points, six goals while its financial entitlement from the sponsorship deals would be withheld by the LMC.
Irabor also said that the LMC resolved to waive the payment of Registration Fees and Insurance Premium by clubs.
He said that the gesture was to help the clubs to improve the welfare of players and coaches.
Another decision reached at the meeting, he said, was that clubs whose home matches were screened live on television would receive a bonus of N250,000.
The meeting, according to him, further agrees that home matches of clubs with unsuitable stadium and security challenges will be moved to a television-friendly venue.
The indemnity of match officials, including match commissioners, Irabor said, was also reviewed upwards by 25 per cent with effect from the 2013/2014 league season.
Irabor also announced a 50 per cent increase in the prize money for the league from N50 million of the 2012/13 season to N75 million for the 2013/14 season.
The March 4 is the deadline for the return of all registration materials by clubs to LMC secretariat.