360 Gist Pilot: NFF, AITEO Reach Agreement On Federation Cup

Thursday, 29 June 2017

NFF, AITEO Reach Agreement On Federation Cup


Details of NFF, AITEO agreement on Federation Cup emerge
Those rights will enable the acquisition of additional commercial assets from the NFF that are available and not encumbered, on a mutually-negotiated basis.

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 five years, similar to the main agreement signed on April 26, 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.
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Accordingly, for the 2017 season, the prize monies for the AITEO Cup will be N25 million for the winner of the men’s competition and N10 million for the winner of the women’s competition.

The runner-up for the men’s competition will pocket N10 million, with the runner-up for the women’s event going home with N5 million.

The NFF and AITEO will, in due course, unveil further details of all the benefits of the extended agreement at a press conference.

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