Sponsorship: NPFL To Earn N165.4m Annually From UK Firm | Independent Newspapers Limited
Newsletter subscribe


Sponsorship: NPFL To Earn N165.4m Annually From UK Firm

Posted: Jun 13, 2016 at 3:00 am   /   by   /   comments (0)

Chibuike Chukwu

Lagos – The Nigeria Professional Football League (NPFL) broke into the international sponsorship market with the signing of a Memorandum of Understanding between the League Management Company (LMC) and United Kingdom’s leading global sport drinks maker, iPro Sport International Limited (ISIL), which is for a five-year period.
The MoU, which involves national distribution agreements and other regulatory approvals, was executed in London late last week with the LMC represented by Shehu Dikko, its chairman, and Thomas Garrad, iProsport’s Managing Director, representing the company.
According to the MoU, iPro Sport International Limited’s leading sports drink, iProsport, will thus become the official isotonic sport drinks to the NPFL and the 20 NPFL clubs for a fee of £1.5 pounds paid to NPPL for every pack (consisting of 12 bottles) of iProsport drink supplied to the Nigerian Market.
This agreement comes with a shipment of minimum of 213,333 packs which guarantees NPFL a fee of £320, 000 British Pounds (about N165.4m) when fully activated.
Furthermore the NPFL would receive an additional fee of £0.5 pounds for every pack supplied to the Nigerian market above the guaranteed 213,333 packs projected in annual sales, guaranteeing a further revenue stream for NPFL from every bottle of iProsport drink consumed in the Nigerian Market.
In addition to the cash backing for the deal, the company will also provide through its products and equipments to all NPFL clubs and to the LMC for use throughout the NPFL season as well as support NPFL capacity development programs.
iPro Sport International Limited’s projection, according to Garran, the Managing Director, is to open a production factory in Nigeria subject to market response to their entry into the Nigerian market and successful implementation of the deal with the LMC.
Dikko describes iProsports’ entry as “a strong message to businesses in Nigeria to embrace the ‘Buy Nigeria’ campaign. It can stimulate the economy and create more jobs through the football industry. It certainly will add impetus to bringing back the lost glory of our football”.
“The possibilities in this deal is huge because the NPFL will stand to gain incremental fees for every bottle of iProsport drink sold in the Nigerian market and the beauty is that this is coming from a company that is yet to start operations in the country when we have those reaping big profits from the Nigerian market taking out money abroad to fund clubs and create jobs there”, Dikko said further.