Naija League attempt - interesting read

[donadoni]

A friend forwarded me the story below - can’t verify the details but it makes for interesting reading. We have so much potential but we remain where we are because of the “Naija Factor”.

Just sharing an interesting personal account by a usa-based Diasporan!
TonyO

****************
“As I look at the recently concluded world cup series, I am saddened by the performance of the Green Eagles.

While many people know of my foray into software development for the country, I seldom talk about other projects I attempted to execute in the country as part of my contribution as a Diasporan who wanted to give back.

A friend in this group called me today to ask and wonder why the 360 degree turn in my attitude towards the country and why I am so embittered. I laughed and said nothing. After careful deliberation, I thought it was time to share more of my experiences while I sojourn in Nigeria.

Criticism of Diaspora is completely misplaced.

People need to understand the quiet pain and losses we endure for our country.

Once I settled down in 2016 and felt (a false) a sense of security about my investments in Nigeria and the critical development work I was doing for the country, I considered another undertaking.

I was angered by the massive number of Nigerians watching the European Soccer league. I imagined the economic benefits to Europe and financial losses in foreign revenue, lost jobs to Nigeria

I approached the minister of sport in 2017 through a mutual friend and assured him we could bring soccer to international standards in Nigeria. We could set a healthy minimum salary (in millions), create over 100,000 direct middle class jobs in the first year, and over 250,000 indirect middle class and low income jobs.

The minister was dismissive at first. He had been approached with similar offers that never materialized, and I understood his skepticism.

I assured him that I don't start anything if I can't finish it. I am a pitbull of sort when I embark on a project.

I assured him I would bring $1 billion dollars to the game in Nigeria. He practically laughed me out of his office. So, I issued him a challenge.

If I could bring the money to the table, would the ministry grant me a license to start a new league in Nigeria.

He looked me up and down as if to size my capacity to deliver, then chose to take me up on my challenge. Personally, nothing excited me more than a healthy dose of challenge.

I immediately returned to the US. Put a team together. A friend who had played with Atlanta Falcons and ran a semi-pro football team in Atlanta introduced me to a number of sport agents, which led to an introduction to a major sports management group based in NY. I quickly engaged the group to put a league and marketing plan together, a $75k project. My team in Atlanta put the business plan together, and within 30 days, we were armed with a pitch document. I went into sport equity market pitched several equity firms, leveraging my businesses, and i successfully secured a $750m letter of credit (LOC) with terms to draw subject to the issuance of license promised by the minister.

I returned to Abuja and the minister was presented with LOC, I have never seen a black man turned white before, as he could not believe I had an LOC for $750m. I assured him we would supplement the funding with a licensing fee to be issued to 10 club owners at $25ml each, which would complete the $1bl guaranteed to the minister.

The league will fund $50ml to each team, creating a $75ml escrowed capital to launch each club

Leaving us with $250ml to develop the league

We began to test the market for broadcast licensing agreements to fund our LOC payback. Interest was strong and the numbers made sense.

There are more people watching soccer games in Nigeria on a Saturday than the UK, Germany, and France combined. The export market for Nigerian soccer league games across the globe is mature. There would be little or no distance between us and Brazil if we did things right.

Nigeria was licensing Euro soccer games and exporting foreign exchange and to me reversing that trend was a personal objective.

We submitted our business and marketing plan to the minister, including economic impact. He was excited and all on board. The secretary to the Ministry of Sport was on vacation while all these were going on. The legal department engaged us, and an agreement to issue a license was put in place. Negotiation ensued and terms agreed upon. "It's execution time" just needed the secretary to return from vacation.

USL (United Soccer League) was about to be a reality.

We would take over existing federal and state stadiums for 10 clubs and bring them up to international standards with corporate suites.

We were going to leverage the first year of broadcast license to attract retired BIG name international stars like Ronaldinho, Kaka for 1 yr contract or borrow some international star to help launch the league. The clubs making up the league would have to bid to join our first year.

We set our season opposite European league to give us room to grow with minimal competition for our audience.

This was an exciting development for me as things moved along.

Secretary to the ministry returned, and our discussion on agreement was now at his desk, expecting things to move forward. Then came the jolt from all directions.

Suddenly, there was talk about buying the existing NFL, something I vehemently opposed. You can't take a bad product and wrap it in a new package and expect the audience to buy it. There is a reason the NFL is not captivating the attention of Nigerians, but we can help it develop, not acquire it.

Also, we feared we would run into conflict with existing, compromised structure under the control of entrenched personalities.

We offered to put $50ml into the NFL to improve it and allow it to feed players into the USL (United Soccer League) which would increase the value of the NFL and we would share stadium with them to improve value of their broadcast license fees.

Not only would we have triggered massive, minor league development across the country, we would have develop local stars to international status, with similar benefits as enjoyed abroad, retirement programs, health coverage, multi million naira contracts, super star statuses.

I remember introduction to the great Kanu by an assistant to VP Osinbajo and a few other greats in the football space in Nigeria. The excitement was definitely brewing.

I had people working on both sides of the Atlantic working on league rules, marketing, retail licensing, security, trademarks, and other intellectual rights.

Then, the bomb shell. The secretary of the ministry decided to send the agreement to outside parties for review.

It was the last I ever saw the agreement. The agreement left the building and never came back. Inquiries after inquiries yielded nothing.

I was disillusioned, I had put my credibility on the line for the LOC. I had triggered costly activities at numerous organizations locally in Nigeria and in the US.

Suddenly, I got a call from an unknown number. It was a male voice on the other line.

Who is this I asked.

Response : Oga it's not important, I just want to tell you that things will go well if you can at least leave 5% of this project for the people at the ministry.

I was stunned left speechless for about 60 seconds

5% of $750ml is $37.5ml where on earth do you hide that on your books and how do you allocate and describe that expense to your investors.

That was the end of my soccer project in Nigeria. I promised I would not participate in corruption in Nigeria and stood by it.

2 years later, I completed my primary and robust project for Nigeria. Tested and approved to launch in 2019. 45 days before the launch date, a demand came forward that could have easily put me on the radar with the US government and in violation of the US foreign corrupt practices act. I declined.

2 weeks before we were to launch the project for Nigeria, I was verbally advised that the head honcho has decided to stop the project. He was no longer interested. It was no longer about Nigerians. It was about his personal interest and decision.

The cost to me personally was significant financially, with several million dollars just discarded by head honcho of the government agency. I also lost a network of investors and sustained damaged credibility with one of the largest sports equity funds in the US

I left Nigeria and promised only to return for family matters only.

Nigeria died inside me.

To all those who want to criticize Diaspora, please understand that many of us tried and, in many ways, failed. You, the people, just don't know or hear about the sacrifices we make. It's a horror show.

We love our country as much as you do. When you say we are online and just posting and agitating, there are reasons for it.

Nigeria is a crime scene, a burial ground for our investments, life savings, and retirement.

Stop judging us if you don't know the whole story.”

[Dammy]

The story of Nigeria.

[scholl]

A friend forwarded me the story below - can’t verify the details but it makes for interesting reading. We have so much potential but we remain where we are because of the “Naija Factor”.

Just sharing an interesting personal account by a usa-based Diasporan!
TonyO

****************
“As I look at the recently concluded world cup series, I am saddened by the performance of the Green Eagles.

While many people know of my foray into software development for the country, I seldom talk about other projects I attempted to execute in the country as part of my contribution as a Diasporan who wanted to give back.

A friend in this group called me today to ask and wonder why the 360 degree turn in my attitude towards the country and why I am so embittered. I laughed and said nothing. After careful deliberation, I thought it was time to share more of my experiences while I sojourn in Nigeria.

Criticism of Diaspora is completely misplaced.

People need to understand the quiet pain and losses we endure for our country.

Once I settled down in 2016 and felt (a false) a sense of security about my investments in Nigeria and the critical development work I was doing for the country, I considered another undertaking.

I was angered by the massive number of Nigerians watching the European Soccer league. I imagined the economic benefits to Europe and financial losses in foreign revenue, lost jobs to Nigeria

I approached the minister of sport in 2017 through a mutual friend and assured him we could bring soccer to international standards in Nigeria. We could set a healthy minimum salary (in millions), create over 100,000 direct middle class jobs in the first year, and over 250,000 indirect middle class and low income jobs.

The minister was dismissive at first. He had been approached with similar offers that never materialized, and I understood his skepticism.

I assured him that I don't start anything if I can't finish it. I am a pitbull of sort when I embark on a project.

I assured him I would bring $1 billion dollars to the game in Nigeria. He practically laughed me out of his office. So, I issued him a challenge.

If I could bring the money to the table, would the ministry grant me a license to start a new league in Nigeria.

He looked me up and down as if to size my capacity to deliver, then chose to take me up on my challenge. Personally, nothing excited me more than a healthy dose of challenge.

I immediately returned to the US. Put a team together. A friend who had played with Atlanta Falcons and ran a semi-pro football team in Atlanta introduced me to a number of sport agents, which led to an introduction to a major sports management group based in NY. I quickly engaged the group to put a league and marketing plan together, a $75k project. My team in Atlanta put the business plan together, and within 30 days, we were armed with a pitch document. I went into sport equity market pitched several equity firms, leveraging my businesses, and i successfully secured a $750m letter of credit (LOC) with terms to draw subject to the issuance of license promised by the minister.

I returned to Abuja and the minister was presented with LOC, I have never seen a black man turned white before, as he could not believe I had an LOC for $750m. I assured him we would supplement the funding with a licensing fee to be issued to 10 club owners at $25ml each, which would complete the $1bl guaranteed to the minister.

The league will fund $50ml to each team, creating a $75ml escrowed capital to launch each club

Leaving us with $250ml to develop the league

We began to test the market for broadcast licensing agreements to fund our LOC payback. Interest was strong and the numbers made sense.

There are more people watching soccer games in Nigeria on a Saturday than the UK, Germany, and France combined. The export market for Nigerian soccer league games across the globe is mature. There would be little or no distance between us and Brazil if we did things right.

Nigeria was licensing Euro soccer games and exporting foreign exchange and to me reversing that trend was a personal objective.

We submitted our business and marketing plan to the minister, including economic impact. He was excited and all on board. The secretary to the Ministry of Sport was on vacation while all these were going on. The legal department engaged us, and an agreement to issue a license was put in place. Negotiation ensued and terms agreed upon. "It's execution time" just needed the secretary to return from vacation.

USL (United Soccer League) was about to be a reality.

We would take over existing federal and state stadiums for 10 clubs and bring them up to international standards with corporate suites.

We were going to leverage the first year of broadcast license to attract retired BIG name international stars like Ronaldinho, Kaka for 1 yr contract or borrow some international star to help launch the league. The clubs making up the league would have to bid to join our first year.

We set our season opposite European league to give us room to grow with minimal competition for our audience.

This was an exciting development for me as things moved along.

Secretary to the ministry returned, and our discussion on agreement was now at his desk, expecting things to move forward. Then came the jolt from all directions.

Suddenly, there was talk about buying the existing NFL, something I vehemently opposed. You can't take a bad product and wrap it in a new package and expect the audience to buy it. There is a reason the NFL is not captivating the attention of Nigerians, but we can help it develop, not acquire it.

Also, we feared we would run into conflict with existing, compromised structure under the control of entrenched personalities.

We offered to put $50ml into the NFL to improve it and allow it to feed players into the USL (United Soccer League) which would increase the value of the NFL and we would share stadium with them to improve value of their broadcast license fees.

Not only would we have triggered massive, minor league development across the country, we would have develop local stars to international status, with similar benefits as enjoyed abroad, retirement programs, health coverage, multi million naira contracts, super star statuses.

I remember introduction to the great Kanu by an assistant to VP Osinbajo and a few other greats in the football space in Nigeria. The excitement was definitely brewing.

I had people working on both sides of the Atlantic working on league rules, marketing, retail licensing, security, trademarks, and other intellectual rights.

Then, the bomb shell. The secretary of the ministry decided to send the agreement to outside parties for review.

It was the last I ever saw the agreement. The agreement left the building and never came back. Inquiries after inquiries yielded nothing.

I was disillusioned, I had put my credibility on the line for the LOC. I had triggered costly activities at numerous organizations locally in Nigeria and in the US.

Suddenly, I got a call from an unknown number. It was a male voice on the other line.

Who is this I asked.

Response : Oga it's not important, I just want to tell you that things will go well if you can at least leave 5% of this project for the people at the ministry.

I was stunned left speechless for about 60 seconds

5% of $750ml is $37.5ml where on earth do you hide that on your books and how do you allocate and describe that expense to your investors.

That was the end of my soccer project in Nigeria. I promised I would not participate in corruption in Nigeria and stood by it.

2 years later, I completed my primary and robust project for Nigeria. Tested and approved to launch in 2019. 45 days before the launch date, a demand came forward that could have easily put me on the radar with the US government and in violation of the US foreign corrupt practices act. I declined.

2 weeks before we were to launch the project for Nigeria, I was verbally advised that the head honcho has decided to stop the project. He was no longer interested. It was no longer about Nigerians. It was about his personal interest and decision.

The cost to me personally was significant financially, with several million dollars just discarded by head honcho of the government agency. I also lost a network of investors and sustained damaged credibility with one of the largest sports equity funds in the US

I left Nigeria and promised only to return for family matters only.

Nigeria died inside me.

To all those who want to criticize Diaspora, please understand that many of us tried and, in many ways, failed. You, the people, just don't know or hear about the sacrifices we make. It's a horror show.

We love our country as much as you do. When you say we are online and just posting and agitating, there are reasons for it.

Nigeria is a crime scene, a burial ground for our investments, life savings, and retirement.

Stop judging us if you don't know the whole story.”

For the section of howlers who would yell: "why don't you come home and help improve the country", this is location 419 in a nutshell. For the folks who have tried doing everything they could to give back and help reverse the daily loses in Nigeria, I sympathize. We've all had our own stories to tell. Majority of Nigerians are zombies who will eat you alive, because bringing them back to life matters less than what they'd like to eat now.

[azuka]

SMH. Nigeria happened to him.

[Sunset]

This is where they lost me But this is what happens when you're too focused on Profits and figures you forget the essence of what makes a league. Being organic

We were going to leverage the first year of broadcast license to attract retired BIG name international stars like Ronaldinho, Kaka for 1 yr contract or borrow some international star to help launch the league. The clubs making up the league would have to bid to join our first year.

[joao]

With the prejudice of not knowing the truth of the story, I just want to say that
when the intent is to initiate a business instead of simply 'giving back', whereby nothing
is expected in return, then one needs to be aware of how those so-called 'Stake holders'
would be receptive to the idea.
I agree with the previous responders to this thread that most of our 'oga them' are not
into public service, but into using the public platform for personal gain. Issues like this are not
new, and many in the diaspora have stories about how their attempts to help society had been
hijacked by those in authority.

[Ugbowo]

This is where they lost me But this is what happens when you're too focused on Profits and figures you forget the essence of what makes a league. Being organic

We were going to leverage the first year of broadcast license to attract retired BIG name international stars like Ronaldinho, Kaka for 1 yr contract or borrow some international star to help launch the league. The clubs making up the league would have to bid to join our first year.

You missed the overall point by focusing on a somewhat minute detail.

You dont put out that kind of money on a deal and not think of all financial aspects of it. It was a sad but unsurprising story to read. One of my close friends tried to do it with basketball and he was frustrated to the high heavens.

We are our own worst enemy.

[Sunset]

This is where they lost me But this is what happens when you're too focused on Profits and figures you forget the essence of what makes a league. Being organic

We were going to leverage the first year of broadcast license to attract retired BIG name international stars like Ronaldinho, Kaka for 1 yr contract or borrow some international star to help launch the league. The clubs making up the league would have to bid to join our first year.

You missed the overall point by focusing on a somewhat minute detail.

You dont put out that kind of money on a deal and not think of all financial aspects of it. It was a sad but unsurprising story to read. One of my close friends tried to do it with basketball and he was frustrated to the high heavens.

We are our own worst enemy.

Its those little details that accumulate to become one big problem, and its no different to what Mr. Pinnick was doing with his BIG TALK which shows he's either not being genuine or was naive about the territory he was navigating in.

Exhibit B of how you set yourself up.

I assured him I would bring $1 billion dollars to the game in Nigeria.

You can do all your market research and bringing up imaginary numbers but it will all be in vain if you don’t understand the type of individuals you are doing business with.

[folem]

With the prejudice of not knowing the truth of the story, I just want to say that
when the intent is to initiate a business instead of simply 'giving back', whereby nothing
is expected in return, then one needs to be aware of how those so-called 'Stake holders'
would be receptive to the idea.
I agree with the previous responders to this thread that most of our 'oga them' are not
into public service, but into using the public platform for personal gain. Issues like this are not
new, and many in the diaspora have stories about how their attempts to help society had been
hijacked by those in authority.

The veracity of the story stands to be confirmed. The branded figures in Naira may be difficult to sustain with a league called "Soccer League" in Naija. I doubt if 10 clubs can put up N15 billion or more to get a license unless they are State Govt owned or outside investors.

[txj]

This is where they lost me But this is what happens when you're too focused on Profits and figures you forget the essence of what makes a league. Being organic

We were going to leverage the first year of broadcast license to attract retired BIG name international stars like Ronaldinho, Kaka for 1 yr contract or borrow some international star to help launch the league. The clubs making up the league would have to bid to join our first year.

You missed the overall point by focusing on a somewhat minute detail.

You dont put out that kind of money on a deal and not think of all financial aspects of it. It was a sad but unsurprising story to read. One of my close friends tried to do it with basketball and he was frustrated to the high heavens.

We are our own worst enemy.

He ALWAYS misses the point. Not a smart fellow..