Sports
NELSON Ine, the Project Director of The Nigeria Football Fund (TNFF), said on Friday that the project was conceived to turnaround Nigerian football for good.
Ine told newsmen in lagos that the project was initiated about 13 years ago to turn football into a business venture.
“TNFF is an open-ended SEC-Registered Unit Trust/Mutual Fund with an initial public offering to raise N5,000,000,000, through the issuance of 5,000,000,000 units at N1.00 per Unit.
“It is a Fund launched by GTI Asset Management & Trust Ltd. to provide sustainable solutions to the challenges hindering the growth and advancement of football in Nigeria by focusing on the development of the Nigeria Professional Football League Clubs.
“The Fund seeks to build a strong economy on the wings of football.
“TNFF shall be investing in high-quality investment-grade instruments involving equities of quoted companies, money market or fixed income instruments, and strategic investment in football via securitised lending investments in identified short to medium term football projects,” Ine said.
He said minimum of 100,000 per share and multiple of 100, 000 were available to the public to invest in.
“We engaged more in sports as recreational activities in Nigeria rather than tap into the business aspect of it.
“The money generated will be used to fund the league and manage professional football in Nigeria.
“We need cooperate trusted governance system and policies to grow our sports,” he said.
The project director said the government had no business in management of sports.
Ine said GTI was not the sponsor of the league, but a strategic partner.
“We don’t see football as sports, but asset,” he said.
Ine said TNFF was a novel initiative designed to build a sustainable project that would transform sports to profitable ventures and unlock more private sector participation, leading to lots of benefit for stakeholders. (NAN)
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Tags: Nelson Ine TNFF
