Delegates attending the annual meeting of the Vietnam Football Federation (VFF) today in Hanoi officially cast unanimous vote for the establishment of a share-holding company to run the top two leagues V-League and First Division for the coming season.
The company named V-League JSC has 25 shareholders including 24 clubs from the two leagues and the VFF. Share capital contributed by share holders will be decided after the company is set up.
In procedure, the VFF is now waiting for written approval from the Ministry of Culture, Sports and Tourism before it sends the company’s regulations to all 28 member clubs.
It is planned that the V-League JSC will be set up in two weeks before the company holds its first shareholders’ meeting on Nov.26 and appoints top leaders in the following day.
The firm will be operated under the Business Law, which means both the VFF and clubs have their rights over the company basing on their equity capital.
The firm will take full responsibilities in managing competition under the leagues including marketing, TV rights, match attendance, refereeing, and other organization tasks.
Importantly, it is consistent with FIFA’s recommendation to apply the new model to run the top leagues in Vietnam.
Hanoi ACB football club chairman Nguyen Duc Kien told Tuoi Tre that the Culture, Sports and Tourism Minister Hoang Tuan Anh had signaled his agreement towards building such a company to run local leagues instead of the VFF as now.
The VFF has been blaming for poor management of V-League that has resulted in steady decline in match attendance and increase in violence and corrupt refereeing.
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