Sports
LMC Approves Gabros Takeover, Change Of Name
The League Management
Company (LMC) at the Weekend said it had approved the takeover of Gabros Interrnational FC of Nnewi by businessman and Chairman/CEO of Capital Oil Limited, Ifeanyi Ubah.
This was contained in a statement by Harry Iwuala, the LMC said the approval was because Ubah had completed the takeover of the Nigeria Professional Football League (NPFL) side.
“This followed an approval granted by the LMC and conveyed in a letter signed by Shehu Dikko, the LMC Chairman and Second Vice-President of the Nigeria Football Federation (NFF).
“By the approval, the club formerly known as Gabros International FC will now be known and addressed as FC Ifeanyi Ubah,’’ the statement said.
It added in the letter that Dikko said the approval has been granted consequent on the verification of Ifeanyi Ubah Limited’s compliance with requirements for takeover of clubs and change of name.
The LMC said the change of name therefore takes effect from Match Day 11 and all points accumulated by Gabros International FC has been transferred to FC IfeanyiUbah.
“After submitting to the very rigorous process put in place to ensure that only serious business-minded persons and corporate groups are admitted to club ownership,
“The LMC is satisfied that Ifeanyi Ubah has substantially met the requirement and has been granted approval to take over Gabros International FC”.
Dikko commended Ubah for patiently working to meet these requirements and said it demonstrated his commitment to operating and funding the club in line with the company’s Rules and Frame Work.
“The Rules and Frame Work, which have been designed to protect the institution of the league and also safeguard the interests of the players and other employees of clubs participating in the NPFL”.
The letter listed some of the conditions met to include but not limited to submission of the certificate of incorporation of the FC Ifeanyi Ubah as a limited liability company.
It said the company must be registered by the Corporate Affairs Commission (CAC), submission of a quarterly Financial Performance Guarantee issued by Skye Bank and the club’s business strategic development plan.
“The Financial Performance Guarantee is not cash paid to the LMC but a bank’s undertaking to make available that amount of money to the LMC should the club either be proven to have defaulted in meeting its financial obligation to employees (playersa, coaches and other employees), another club or failed to remedy after appropriate notice.
“This is a safety net put in place by the LMC to address the problems of indebtedness, especially to players and coaches by clubs,’’ Dikko said.
“Others are a letter of Personal Performance Guarantee of the club by Ubah, a letter from Zenith Bank attesting to Ifeanyi Ubah’s good standing as the bank’s customer and a Personal Guarantee Deed of agreement of Ifeanyi Ubah in favour of the LMC for the value of N1.5 billon for three years, including investment in club infrastructure.
“The personal guarantee deed represents an undertaken by Ubah as the club promoter to guarantee and fund the participation and operations of FC Ifeanyi Ubah for a minimum period of three years in league football and compliance to all the NPFL and NFF rules and other extant football rules and regulations,’’ Dikko said.
The rest of the requirements fulfilled by FC Ifeanyi Ubah include a sponsorship agreement with Capital Oil Ltd for a three-year deal worth N5 billion to support the club.
It said “this included the provision of new infrastructure (mini stadium) and a letter of consent from the owners of Gabros International FC for the takeover and change of name of the club’’.
Dikko further remarked that the LMC is quite delighted to have a big private investor with huge passion for football taking over a club in the NPFL.
“I hope that this will set the stage for other serious businessmen and blue chip companies in Nigeria to take over clubs in the elite league, either as owners, investors and/or sponsors.’’
The LMC assured the existing and potential investors in the league that the LMC is always available to provide all the necessary support and advisory.
“This is a service to any qualified party interested in taking over in the league.
Sporting have not received an offer for striker Viktor Gyokeres and there is no gentleman’s agreement for him to leave for £59million, says club president Frederico Varandas.
Sweden international Gyokeres, 27, has been heavily linked with Manchester United and Arsenal after scoring 97 goals in 102 matches during two seasons in Portugal.
He has a 100m euro (£85m) release clause in his contract.
It has been widely reported that, after staying at Sporting last summer, Gyokeres and Sporting agreed he could leave for 70m euros (£59m) this summer.
However, Varandas said the club’s only promise to Gyokeres was that they would not demand his full release clause.
“I can guarantee that Viktor Gyokeres will not leave for 60m euros plus 10m euros because I never promised that,” Varandas said.
“To this day Sporting has not had an offer for Gyokeres, neither today nor last season.”
Gyokeres spent three seasons with Coventry City in the Championship before joining Sporting under Ruben Amorim.
Manchester City director of football Hugo Viana was sporting director at Sporting last summer, when Gyokeres’ agent sought assurances about his leaving if a suitable offer arrived.
“One of the agent’s biggest concerns was whether we would demand the termination clause,” said Varandas.
“He wanted to guarantee certain things. And what was agreed? That Sporting would not demand a release clause now.
“For one reason: he was going to be 27 years old and no player leaves Portugal at 27 for 100m eurors or 90m euros.
“In that same meeting the agent wanted to anchor the exit to a value. I said this sentence: ‘It’s not worth us setting a value because I don’t know what will happen in a year’s time. I don’t know if it will be 40m euros, 60m euros or 80m euros. What I can guarantee is that I will not demand 100 million euros.’”
Concacaf President Victor Montagliani has criticised a proposal to expand the 2030 men’s World Cup to 64 teams.
The plans, put forward by South American governing body Conmebol, have also drawn opposition from Uefa president Aleksander Ceferin and the Asian Football Confederation (AFC).
The tournament will be hosted by Spain, Morocco and Portugal, after the opening matches are held in Argentina, Paraguay and Uruguay.
The 2026 World Cup, which will take place across the United States, Mexico and Canada, has already been expanded from 32 to 48 teams.
But Conmebol said it wanted to add more participants to mark the competition’s 100-year anniversary.
“I don’t believe expanding the men’s World Cup to 64 teams is the right move for the tournament itself and the broader football ecosystem, from national teams to club competitions, leagues, and players,” Montagliani told Tidesports source
“We haven’t even kicked off the new 48-team World Cup yet, so personally, I don’t think that expanding to 64 teams should even be on the table.”
Concacaf is the governing body of football in North America, Central America and the Caribbean.
The decision to expand the 2026 World Cup to 48 teams was taken in 2017 following a unanimous vote at a Fifa congress.
Fifa’s 75th congress will be held in Paraguay on 15 May, when Conmebol’s proposal could be discussed.
If the proposal is accepted, the 2030 edition would consist of 128 matches, double the number played under the 64-game format used from 1998 and 2022.
In March, Ceferin described the proposal as a “bad idea” while AFC president Sheikh Salman bin Ibrahim Al-Khalifa said it would cause “chaos”.
“If the issue remains open to change, then the door will not only be open to expanding the tournament to 64 teams,” said Salman.
“But someone might come along and demand raising the number to 132 teams. Where would we end up then? It would become chaos.”
Brazil qualified for the 2026 World Cup this week with a 1-0 win against Paraguay in South American qualifying to give Carlo Ancelotti his first win as manager.
Real Madrid forward Vinicius Jnr scored from close range in the second half, finishing after fine work from Manchester United-bound playmaker Matheus Cunha.
The victory, Ancelotti’s first after a 0-0 draw against Ecuador on his debut last week, means Brazil has now qualified for every edition of the World Cup.
“We needed to win and qualify for the World Cup,” said Vinicius Jr.
“Now the coach will have more time to work. Of course today wasn’t one of our best performances, but the important thing is always to win.
“Now it’s time to celebrate qualifying.”
Elsewhere, World Cup holders Argentina played out an entertaining 1-1 draw with Colombia in Buenos Aires.
Liverpool winger Luis Diaz opened the scoring with a fine individual goal, dancing through three defenders before finishing past Aston Villa goalkeeper Emiliano Martinez.
Argentina was reduced to 10 men with 20 minutes remaining when Chelsea midfielder Enzo Fernandez was sent off for a high-boot challenge on Colombia’s Kevin Castano.
But Lionel Messi’s side found an equaliser nine minutes from the end through Lyon’s Thiago Almada, leaving Colombia four points clear of seventh-placed Venezuela.
Ecuador, Argentina’s nearest challengers, booked their spot at next summer’s tournament in Canada, Mexico and the United States after a 0-0 draw away at Peru.