|Globacom to Title Sponsor Nigeria Premier League|
Friday, 18 January 2013 12:51
Telecommunications company, Globacom has become the title sponsor of the Nigeria Premier League (NPL) starting on February 1, according to SuperSport.
"On February 1, the title sponsorship contract will be signed with Globacom and every detail concerning the deal will be unveiled. This title sponsorship is to also show that we are genuinely working towards ensuring that the league kicks off on February 16 to start with among other things we are planning," said the official.
NPL and Globacom will enter into a four-year title partnership deal on February 1 worth N2.6 billion (around $41 million).
Globacom is expected to present a cheque of N650 million (around $4 million) as payment for the first year of the four-year title partnership.
A statement released by the NPL's LMC on Thursday night stated: "All parties have agreed to withdraw all pending matters in court associated with the title sponsorship of the Premier League. Total Promotions Limited agreed to withdraw their claims to the rights of the title sponsorship of the Premier League. Globacom, being the preferred bidder, has accepted to take up the title sponsorship rights.
"Consequently, Globacom will now be the official title sponsor of the league on the same terms agreed during the last bidding exercise. A formal contract will be signed with Globacom before the commencement of the league and details will be made public."