The League Management Company has announced that the winners of this year’s Glo Nigeria Professional Football League will receive a N10 million prize.
The sum is part of a N50 million graduated payment structure for all participating clubs in this year’s League.
LMC chairman Nduka Irabor announced the cash incentives on Friday and said the pay-out has been introduced to sustain the competitive spirit that has seen the league heading for a photo finish.
“It is an innovation we are bringing about to sustain, if not raise the level of competitiveness witnessed in the out-going season and as we stabilize the League, the Merit Award will be reviewed upwards,” declared Irabor.
He clarified that the Merit Award is different from the appearance fee which is distributed evenly amongst the 20 participating clubs, “The Merit Award will hopefully assist the clubs start preparations for next season’s activities and also help those being relegated settle for competition in the lower division.”
It is the first time the league will pay out prize money since the advent of Premier League football in the country back in 2005.
The top prize of N10m will go to the champions in a graduated payment that will see the last placed team receiving N1m.
A breakdown of the figures shows that the runners-up will earn N7.5m while the 2nd and 3rd runners-up will be richer by N5m and N2.5m respectively. The 5th, 6th and 7th placed teams will receive N2.1m, N1.95m and N1.9m. Further down are the 8th, 9th and 10th placed teams that will be paid N1.85m, N1.8m and N1.75m respectively.
For the 11th, 12th and 13th positions, the reward has been pegged at N1.7m, N1.65m and N1.6m. Others are 14th, (N1.5m), 15th (N1.4m), 16th (N1.3m), 17th (N1.25m), 18th (N1.2m) and 19th (N1.05m).
Irabor said the LMC will regularly review the Merit Award prizes as part of its strategy to ignite healthy competition amongst the clubs and extract greater commitment and enhanced quality of performance from the players.
“The LMC will review the Merit Award prizes as we stabilize the League and grow the revenue base of the company to inspire the players towards higher quality performance and also engender healthy competition amongst the clubs.”
Kano Pillars, Bayelsa United and El-KKanemi Warriors are in the race for the N10m.