Determined to develop sports and Sporting facilities to international standard, the Lagos State Sports Trust Fund on Tuesday unveiled its masterplan for sports development in the state.
The Chairman of the Trust Fund and former Lagos State Deputy Governor, Otunba Femi Pedro, at a media chat revealed that the idea was conceived to ease government off the burden of solely financing sports, hence the Public-Private partnership model is adopted.
Pedro said: “Sports Trust Funds has been tested successfully in many nations with well developed sports facilities and infrastructure and successful athletes development.
“Our vision is to be a world class trust fund, propelling Lagos to become the leading sports hub in Africa.
“Our mission is to raise and manage fund for the sustainable development and promotion of sports in Lagos.
“The central core of our business is fund raising for sports development using the public-private partnership model.
“We are therefore set to collaborate with the private sector in general, non-profit organisations, sports equipment manufacturers, sports betting companies, donor agencies, high net worth individuals, high profile elite athletes, media organisations and individuals and the general public.”
Pedro further explained that the collaboration could be in form of cash and grant, donations of sporting facilities and equipment, sponsorship of athletes, sporting events, media space, branding of sports facilities and event venues, sales of sports memorabilia and many more.
According to him, the state government has provided ample support at take off and other funding support, just he pointed out that the law establishing the LSSTF mandates that 10 per cent of funds generated by the State Lottery Board be paid annually to the trust fund.
Some other members of the Lagos State Trust Fund are Waheed Enitan Oshodi, Dr. Kweku Tandor, Babatunde Bank-Anthony, while Olaposi Agunbiade is the Executive Secretary.
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