Telecommunications giant Globacom has won back the sponsorship right of the Nigeria Premier League. The interim chairman of the League Management Company (LMC) Nduka Irabor who disclosed this to newsmen yesterday in Abuja, said the LMC has reached agreement with the telecommunications outfit to sponsor the league for the period of three years. He said the company will commit the sum of five hundred and fifty million naira (N550m) to the League Management Company for the first sponsorship year with a pledge of 10 % upward review of the sponsorship deal every year.
For the two seasons, the Nigeria Premier League has been without a title sponsor after the first auction was handed to bidders, Total Promotions Limited with Globacom resorting to redress in court.
According to Irabor, part of the new sponsorship deal will see Globacom pay N100m to the Total Promotions which won the bid two years ago as compensation.
Total Promotions Limited has also agreed to withdraw their claims to the right of the title sponsorship of the premier league.