The protracted crisis in the Nigeria Premier League over the sponsorship war between two leading telecommunication outfits, Globacom and MTN, is over.
On Tuesday, information reaching The Eagle Online from the NPL secretariat indicated that Globacom has agreed a four-year title sponsorship deal worth $16.5 million.
With the contract signing ceremony billed for February 1, 2013, the partnership is set to commence with the new 2012/13 season that begins on February 16.
Globacom is expected to present a cheque for $4.1 million at the contract signing to mark the first payment of the partnership.
A row over the title sponsorship for the NPL had been ongoing since December 2009 when rival telecommunications firm, MTN, had been handed the rights after bettering Globacom’s original bid.
Globacom had been the title sponsor of the NPL but pulled out of the deal, citing unfavourable conditions.
Despite this, a statement from the NPL League Management Committee said the matter was now closed.
The statement reads: “All parties have agreed to withdraw all pending matters in court associated with the title sponsorship of the Premier League.
“Total Promotions Limited agreed to withdraw their claims to the rights of the title sponsorship of the Premier League. Globacom, being the preferred bidder, has accepted to take up the title sponsorship rights.
“Consequently, Globacom will now be the official title sponsor of the league on the same terms agreed during the last bidding exercise.
“A formal contract will be signed with Globacom before the commencement of the league and details will be made public.”