Kano Pillars FC seem poised to be the first club to meet the threshold set by the League Management Company (LMC) for registration of clubs for the 2013/14 Glo Premier League season.
The announcement of a management team by the Kano state Government on Monday signaled a strong resolve by the club to comply with the administrative criteria spelt out in the registration requirements by the LMC as a precondition condition to participate in the League.
In a statement read at a press conference in Kano by the special adviser to the Governor on Sports, Alhaji Ahmed Shu’aib-Gara, said: “His Excellency, the Executive Governor of Kano state, Engr. (Dr.) Rabiu Musa Kwankwanso, has granted approval for all the requirements of the registration process to be met before the expiration of the registration process.”
Gara also revealed that approval has been granted to the Kano state’s accountant general to provide the N100m performance guarantee on behalf of Kano Pillars.
Furthermore, the special adviser said the state has divested 30% of its shareholding from the club and the shares are held in trust by the new board members.
In his words, “All members of the board of directors are holding their allotment shares in trust for the government. Government may decide to recover them at any time. The 30% holding by the chairman is in line with the LMC requirement that 30% should be reserved for the public which shall be subscribed to later when the club is fully commercialized and its assets and liabilities are established to determineest its full value”.
Other conditions for registration set by the LMC include evidence of signed contracts with players along with the minimum wage of N150, 000, medical certificates of the players and the certification of stadium with evidence of unfettered access to the stadium through direct ownership or 10 years lease agreement.