LMC, club owners agree on N100m bond, February 21 kick-off date

Club representatives and the League Management Company rose from a crucial meeting in Abuja on Tuesday resolving to start the 2013/2014 Premier League season on February 21, 2014 after the 20 league clubs have a provided a performance guarantee of N100 million from an approved financial institution as registration requirement.
Reading the communiqué signed by the two parties, the acting Secretary of the club representatives, Alloysius Chukwuemeka, also said that other far-reaching decisions taken during the meeting included ensuring that no player in the Premier league receives less than N150,000 monthly minimum wage.
The communiqué further made it clear that while it has abolished sign-on fee, no club would give any player one season contract, insisting that clubs must sign players for at least three years, which could only be revoked after the player must have spent at least one season.
Chukwuemeka said: “The meeting agreed that the 2013/2014 Glo Premier League season shall kick-off on the weekend of Friday, February 21 through Saturday 22 and Sunday 23. The league will go on break during the World Cup and expected to end by October. Clubs shall provide performance Guarantee of N100 million from an approved financial institution as part of the 2013/2014 league season registration requirement.
“This will serve to ensure that the Clubs can meet their financial obligations to their players, staff and other financial commitment. The sign-on fee as part of contractual arrangement between clubs and their players and technical staff have been abolished from the 2013/2014 season and players’ enhanced salary scheme will come into effect with a monthly minimum wage of N150,000.
“Henceforth, no complaints of non-payment of sign-on-fees by players and technical staff shall be entertained by the LMC. However, all clubs with outstanding sign-on-fees’ indebtedness to players and technical staff for the 2012/2013 league season have been given one year moratorium to ensure the liquidation of such debts as part of requirement for registration for the 2013/14 season.
“The LMC and the Clubs agreed that short term contracts for players have been abolished and no player shall be offered a contract of less than three years tenure except those who have played for 10 seasons or above in the league. Such players who have been offered three years contract can only contemplate a transfer out of the club after serving a minimum of one football season. However, all transfer transactions must comply with the prescribed procedures and duly documented and domiciled with the LMC and will be required before any new transfer transaction for such player will be approved.”