Nigeriaâ€™s GreenÂ Eagles have been valued at N1 billion by the Nigeria Football Federation as the Glass House seeks to renegotiate their sponsorship deal for the senior national team.
Telecommunications firm Globacom currently sponsor the Eagles and the other 10 national teams for a combined annual fee of N150 million.
That contract lapses in December and the NFF say they now want to fragment the sponsorship rights to each national team, with the GreenÂ Eagles, as the flagship brand, valued at N1 billion.
â€œIt simply does not make economic sense for us to have all our national teams valued at just N150 million,â€ Idris Adama, Head of the NFFâ€™s Marketing Department, told KickOffNigeria.com.
â€œGlobacomâ€™s contract runs out on December 8, but they have the right of first refusal, so we have written to them to offer the Eagles and other national teams to them at individual values.â€
Adama said Globacom have indicated their interest in taking up the offer, but there remains a sticking point.
â€œThey have written to us indicating that they would like to take up the offer, but they have not fulfilled their obligations in respect of the current contract.
â€œThey are still owing us N150 million that was due in January this year.â€
The executive committee of the NFF met yesterday in Abuja, and Adama made it clear that one of the issues on the table was whether or not to extend Globacomâ€™s contract in light of the current situation.