League Management Company has at last approved the final acquisition of Gabros FC of Nnewi by chairman of Capital Oil Limited, Ifeanyi Ubah and the eventual change of name to FC Ifeanyi Ubah.
Nigerian Pilot Sports gathered that Chief Ubah who bought over the Nnewi side at the end of the last football season could not complete the formalities that would lead to its official change of name before the beginning of the new season.
However, following the approval granted by the League Management Company, LMC which was conveyed in a letter signed by the LMC Chairman and NFF Vice President, Mallam Shehu Dikko. The club which was formerly known as Gabros International FC will now be known and addressed as FC Ifeanyi Ubah.
Others are a letter of Personal Performance Guarantee of the club by Dr. Ifeanyi Ubah, letter from Zenith Bank attesting to Dr. Ifeanyi Ubah’s good standing as the bank’s customer and a Personal Guarantee Deed of agreement of Dr. Ifeanyi Ubah in favour of the LMC for the value N1.5b for three years including investment in club infrastructure.
The personal guarantee deed represents an undertaken by Dr. Ubah as the club promoter to guarantee and fund the participation and operations of FC IfeanyiUbah for a minimum period of 3 years in league football and compliance to all the NPFL and NFF rules and other extant football rules and regulations.
The rest of the requirements fulfilled by FC IfeanyiUbah include a sponsorship agreement with Capital Oil Ltd for a three year deal worth N5b to support the club including the provision of new infrastructure (mini stadium) and a letter of consent from the owners of Gabros International FC for the takeover and change of name of the club.
LMC boss said that the approval has been granted following the verification of Ifeanyi Ubah Limited’s compliance with requirements for takeover of clubs and change of name.
Dikko said that the change of name takes effect from Match Day 11 and all points accumulated by Gabros International FC has been transferred to FC Ifeanyi Ubah which now appears on the NPFL fixture and log.
“After submitting to the very rigorous process put in place to ensure that only serious business minded persons and corporate groups are admitted to club ownership, the LMC is satisfied that Dr. Ifeanyi Ubah has substantially met the requirement and has been granted approval to takeover Gabros International FC.”
LMC Chairman commended Ubah for patiently working to meet these requirements and said “it demonstrated your commitment to operating and funding the club in line with LMC Rules and Frame Work which has been designed to protect the institution of the league and also safeguard the interests of the players and other employees of clubs participating in the NPFL”.
Dikko further remarked that the LMC is quite delighted to have a big private investor with huge passion for football taking over a club in the NPFL and hope that this will set the stage for other serious business men and blue chip companies in Nigeria to take over clubs in the elite league
either as owners, investors and or sponsors. He assured existing and potential investors in the league that the LMC is always available to provide all the necessary support and advisory service to any qualified party interested in taking over club in the league.

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