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| NFF President, Amaju Pinnick (second left) and AITEO’s DMD Francis Peters (second right) are joined by NFF VP1, Seyi Akinwunmi (left) and AITEO’s Legal Counsel Andrew Onyearu (right) |
SportsMarketing
AITEO, Nigeria’s foremost
energy solution company, on Wednesday acquired the ‘Naming Right’ of the NFF
Federation Cup, as an extension/addendum to the company’s sponsorship agreement
with the Nigeria Football Federation. It is also part of the rights AITEO has
under the original agreement.
Those rights will enable
the acquisition of additional commercial assets from the NFF that are available
and not encumbered, on a mutually –negotiated basis. To this end, the NFF
Federation Cup, the oldest football competition in Nigeria, is henceforth to be
known and addressed as "AITEO Cup"
The duration of this
aspect of the sponsorship is 5 years, similar to the main agreement (signed on
26th April 2017) on a Cost Value Arrangement and commencing from the 2017
season. This 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.
Accordingly, for the 2017
season, the prize monies for the AITEO Cup will be N25million for the winner of
the men’s competition and N10million for the winner of the women’s competition.
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 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.”
At Wednesday’s simple but
colourful ceremony were NFF President Amaju Pinnick, Deputy Managing Director
of AITEO, Mr. Francis Peters, Barrister Seyi Akinwunmi (NFF 1st Vice
President/Chairman, Organizing Committee), Mr. Shehu Dikko (NFF 2nd VP/LMC
Chairman/Chairman, Marketing, Sponsorship and Television Advisory Committee),
Mr. Andrew Onyearu (Group Executive Director/Chief Legal Counsel, AITEO),
Barrister A. U. Mustapha (SAN, Vice Chairman of NFF Committee on Ethics and
Fairplay), Mr. Victor Okoronkwo (Senior Vice President, Commercial and Gas,
AITEO), Ms Aisha Falode (Member, NFF Executive Committee/Chairman, Nigeria
Women Football League), Mr. Ademola Olajire (Director, Media and Communication
of NFF) and Mr. Ndiana-Abasi Matthew (Senior Manager, Corporate Communications
of AITEO).
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