Sports
A Tale Of The Nigeria Football Fund’s Benefits
The Nigeria Football Fund (TNFF) is an open-ended Security and Exchange Commission-Registered Unit Trust/Mutual Fund with an initial public offering to raise N5billion through the issuance of 5,000,000,000 units at N1.00 each.
The fund was launched by GTI Asset Management & Trust Limited on Tuesday, March 22, 2022, for the purpose of offering sustainable solutions to the challenges hindering the growth and advancement of football in Nigeria by focusing on sports development.
Biztellers reports that presently, the TNFF is the catalyst energising the transformation of the Nigeria Premier Football League (NPFL).
Recall that the organisation of the NPFL was fraught with several challenges, topmost among them being the issue of poor funding which the TNFF is poised to breathe in a new lease of life into in a sustainable manner.
It is noteworthy that the TNFF also invests in high-quality investment-grade instruments involving equities of quoted companies, money market or fixed-income instruments, and strategic investment in football/sports sector via securitized lending investments in identified short to medium-term “Football Projects.”
The Fund also aims to transform football clubs from socio-political tools to profitable business enterprises and by extension, with the hope of seeing them grow into national assets. This way Nigeria’s football assets would start contributing to the Gross Domestic Product (GDP).
As noted earlier, TNFF will promote investment culture among participants in the sports industry with an opportunity to earn returns from investment-grade instruments involving equities of quoted companies, sovereign and corporate short/long-term debt obligations and securitized lending investments in identified short to medium-term “Football Projects.”
The multiplier effects of building a “Football Economy” is extremely huge, as an improved football sector will drive a cycle of growth (value-chain effects) across several other sectors like Tourism, Broadcasting, Technology, Gaming, Media, Hospitality, Transportation, Merchandising etc.
The impact of these is expected to manifest in the following areas; increased economic activities, increase in employment opportunities, rise in disposable income, significant contribution to the GDP and a general increase in demand for the products, goods and services produced by Nigerian corporate/manufacturing companies.
The Fund which is currently managed by GTI Asset Management & Trust Limited has the following under-listed objectives.
It will help the government to use football to manage social vices, especially among the teaming idle youths. Most of the youths would be kept busy through sporting activities and will not fancy indulging themselves in criminal activities if left unchecked.
Therefore, an improved football economy could easily enhance national development as the beautiful game in turn becomes an easy tool or a veritable source of revenue for the government.
In addition, the TNFF will help to enhance national savings culture and stimulate the financial inclusion agenda of the federal government.
Those versed in sports business are of the opinion that the TNFF has the potential of deepening Nigeria’s economy, creatively, in the areas of production and distribution of cultural goods to support the football industry for great economic impact.
The positive spill-over effect on the development of the tourism sector can be heartwarming because of its positive impact on hotel occupancy rates, pundits aver.
Aside from enhanced foreign exchange earnings, which the TNFF will bring to the table through foreign television broadcasting rights, infrastructural development; the fund has demonstrated the capacity to convert the interests of mammoth Nigerian fans into commercial success and sustainable growth, development economists opine.
Sports
AC Milan Pull Off Thrilling Injury-Time Comeback To Beat Parma 3-2
AC Milan staged a remarkable comeback at the San Siro on Sunday, defeating Parma 3-2 in a thrilling Serie A encounter that kept fans on the edge of their seats until the final whistle.
Trailing twice in the match, the Rossoneri produced two injury-time goals from Tijjani Reijnders and Samuel Chukwueze, sealing a historic win and further strengthening their position as title contenders.
Parma took the lead in the 24th minute, with Matteo Cancellieri finishing off a precise assist from Valeri to stun the home crowd.
READ MORE: Turkish Airlines Resumes Flights To Damascus After 13-Year Hiatus
Milan struggled to break down Parma’s defense but found their equalizer in the 38th minute after a foul on Pavlović in the box resulted in a penalty.
Christian Pulisic stepped up and calmly converted, leveling the score at 1-1.
The visitors regained the lead in the 80th minute when Enrico Delprato capitalized on a swift counterattack to put Parma 2-1 ahead.
With time running out, it seemed as though Milan might fall short, but the team refused to back down.
In the 90+2 minute, Reijnders scored a vital equalizer, driving home a well-placed pass from Musah.
Just three minutes later, Chukwueze completed the turnaround, striking a clinical winner from Pavlović’s assist in the 90+5th minute, sending the San Siro into raptures.
“This match was a testament to the character of this team,” said AC Milan coach Conceição. “We kept pushing, kept believing, and in the end, we were rewarded.”
The victory not only moved AC Milan to 34 points, consolidating their spot among Serie A’s top teams, but also highlighted their potential as serious title contenders.
Reijnders, the league’s leading central midfield goalscorer, now has six goals this season.
Chukwueze’s decisive goal marked his first of the season, while Pulisic ended a nine-game goal drought with his successful penalty.
The match also featured a milestone for Tammy Abraham, who made his 100th Serie A appearance.
Sports
Belgium Appoints Rudi Garcia As National Team Coach
The Belgian Football Federation has named Frenchman Rudi Garcia as the new head coach of the national team, following the sacking of Domenico Tedesco after a disappointing Euro 2024 campaign.
In a statement released on Friday, the federation confirmed the appointment of the Underworld former Napoli, Lyon, and Roma manager, who will be formally introduced to the press later in the day.
READ MORE: Nuri Sahin Fired As Borussia Dortmund Head Coach
Garcia’s task will be to rejuvenate the Red Devils after their early exit from the European Championship and underwhelming performances in the Nations League.
Belgium recently parted ways with Tedesco, who had been in charge since February 2023.
The Italian-German coach was brought in to rebuild the squad following the departure of the country’s celebrated “golden generation” under Roberto Martinez but failed to deliver the expected results.
The team now faces a critical relegation play-off against Ukraine in March, before beginning their 2026 World Cup qualifying campaign with a trip to North Macedonia in June.
Garcia brings a wealth of experience, having coached top European clubs such as Marseille and Lyon.
He also made his mark at Lille between 2008 and 2013, leading the French side to a Ligue 1 and Coupe de France double in 2011.
However, his most recent role at Napoli in 2023 ended in disappointment after just five months.
Sports
Nuri Sahin Fired As Borussia Dortmund Head Coach
Borussia Dortmund have sacked head coach Nuri Sahin after a disappointing 2-1 loss to Bologna in Tuesday’s Champions League match, marking the club’s fourth consecutive defeat in all competitions.
The decision follows a string of poor performances that have left the club in 10th place in the Bundesliga, 20 points adrift of league leaders Bayern Munich.
Sporting CEO Lars Ricken expressed that the club had “lost faith” in Sahin, explaining that the decision was painful but necessary.
READ MORE: EDO: SUBEB Chair, 6 Commissioners, Board Chairs Take Oath Of office
“We have unfortunately lost faith that we will achieve our sporting goals,” Ricken said. “We value Nuri Sahin and his work very much, we hoped for a long collaboration, but after the game in Bologna, this was unavoidable.”
Sahin, who had been promoted to head coach in the summer following his role as assistant to Edin Terzic during Dortmund’s surprise Champions League final run last season, acknowledged the disappointment.
“Unfortunately, I was not able to live up to Dortmund’s sporting ambitions at this point in time. I wish this special club all the best.”
The defeat against Bologna caps a difficult season for the club under Sahin’s stewardship.
Despite their strong showing in last season’s Champions League, where they lost to Real Madrid in the final, Dortmund have struggled in the Bundesliga and were eliminated from the German Cup by Wolfsburg.
Their away form, in particular, has been disastrous, with only four wins and nine losses in 15 matches away from the Westfalenstadion.
Dortmund’s leadership, which has historically favored former players in managerial roles, now faces the task of finding a suitable replacement for Sahin.
German media reports suggest potential successors could include Erik Ten Hag, the former Manchester United boss who has been spotted attending Dortmund games recently, or Roger Schmidt, formerly of Benfica and Bayer Leverkusen.
In the interim, U19 coach Mike Tullberg has been appointed to take charge of the first team, starting with Saturday’s home match against Werder Bremen.
The sacking of Sahin is the latest chapter in a turbulent managerial history for Dortmund since the departure of Jurgen Klopp in 2015, with the club having cycled through eight different head coaches in that time. Only Lucien Favre managed to stay longer than two years.
Sahin’s tenure as manager was a significant moment for Dortmund, as he was one of the club’s own, having come through the ranks and played over 270 games for the team, including being part of the squad that won the 2011 Bundesliga title.
However, his time at the helm of the senior team has proven to be short-lived as Dortmund now seek a new direction.