The Nigeria
Football Federation, NFF and its premium partner Aiteo Group in a bid to save
the Federation Cup yesterday signed a N2.5 billion sponsorship deal that will
see
the competition run without hitches for the next five years.
Given the
new deal which had extended Aiteo Group sponsorship with the football governing
body in Nigeria, the tournament would be renamed the Aiteo Cup .This was
confirmed after a series of meetings between NFF officials led by the
President, Amaju Pinnick who confirmed the news at a press conference in Lagos.
“We want to
celebrate and thank Aiteo,” Amaju Pinnick told Score Nigeria in Lagos during
unveiling ceremony on Wednesday. The package will guarantee a monetary reward
for the best performing teams with the winners of men’s version will bag
N25million as prize money and N10million for the women’s event. The runner –up
for the men’s competition will pocket N10million, with the runner –up for the
women’s event going home with N5million. The NFF and AITEO will, in due course,
unveil further details of all the benefits of the extended agreement at a press
conference.
The
country’s longest running competition had struggled for sponsorship since
Coca-Cola pulled out as title sponsors several years ago.
FC
Ifeanyiubah won last year’s competition and represented Nigeria in the 2017 CAF
Confederation Cup.
The
arrangement will see AITEO underwriting the costs of the organisation of the
competition, which encompasses the costs of organising the competition from the
Round of 64 to the men and women’s finals, solidarity support to Football
Associations of the 36 States and the FCT, expenses and indemnities of match
officials, support to participating Clubs, Media, Branding/Activation and Prize
Money to winners.
The Cost
Value Arrangement of the transaction is for NFF and AITEO to, annually, decide
the nature and value proposition of the AITEO Cup under the framework of the
relationship, and AITEO would thus underwrite the cost as the competition’s
‘Naming Right Holder.’
The NFF team
at the contract signing inside AITEO Group’s Lagos office said it was
“extremely delighted” by the extended agreement, while AITEO chieftains stated
“we are happy to do this for Nigeria.”
0 Comments