Shooting Stars Disbanded By Government Due To Mounting Financial Bills


I think this should be political and sports as well.

Nigeria club Shooting Stars disbanded by government due to mounting financial bills
The Ibadan club has been scrapped and its players and officials sent packing after a woeful season that saw them barely escape relegation

Shooting Stars Sports Club (3SC), one of Nigeria’s most prestigious club sides, has been disbanded by its owners, the Oyo State government.
All officials and players have also been sacked after the team finished 15th on the log at the close of the 2010-2011 season in the Nigeria Premier League.

A report on KickOffNigeria.com stated that the side is in debt to the tune of 160million Naira (€744,954). This money includes player sign-on fees, salaries, clearance fees to clubs, and unpaid hotel bills.

3SC, who are five-time Nigeria league champions won the old Caf Cup in 1992, the African Cup Winners’ Cup in 1976 and have been twice runners-up in the Champions League in its old format.

I am really saddened by this news. When  Newcastle was in debt, some Nigerian mob were available for rescue. Yet we find it very difficult to rescue our own. Take a look at the debt 160million Naira (€744,954), this by far less than what a club in the EPL will pay to sign a single player.

very unfortunate.

Dont see y govt should keep this dodo flying, no point in throwing money at none performing clubs.
There are better and urgent needs for scarce resourses.

Does this mean the club will cease to exist henceforth? That's really sad.
This is why I keep singing that the government shouldn't be allowed to manage things like this.
When you see bodies like this being run by the government, you notice there's hardly ever significant growth, cuz the government lacks the flexibility and adventurous hustling skills to really see these bodies progress beyond their original predefined boundaries. 'Tis why I feel these companies should rather be under the watch of private firms, while the government enjoys a slice of its revenue.

I am not in support of governments running football clubs, its pure business. What annoys me is that a faceless Nigerian group of entrepreneurs represented by NVA was ready to dole out £350m (€410m or NGN88b) to Mike Ashley for the sale of Newcastle United.

Everyday our politicians are abroad searching for investments; yet there are lots Nigerians capable of moving this country to greater heights if only they can invest in our own people.

As much as I don't think government should be involved in activities best left to the private sector, it is unfortunate that this club will die.

saintneo:

I think this should be political and sports as well.

I am really saddened by this news. When Newcastle was in debt, some Nigerian mob were available for rescue. Yet we find it very difficult to rescue our own. Take a look at the debt 160million Naira (€744,954), this by far less than what a club in the EPL will pay to sign a single player.

Do the Nigerian mob look like NGOs to you?
What profit is there to be made from shooting stars?
Do you know what the turnover of Newcastle united is in a season?
it share of the sky tv revenue?
shirt sponsorship?
naming rights to St. James Stadium?

you want to compare Newcastle united as a money making entity and shooting stars. is that a joke?
guy, stop that rough play o!

mbulela:

Do the Nigerian mob look like NGOs to you?
What profit is there to be made from shooting stars?
Do you know what the turnover of Newcastle united is in a season?
it share of the sky tv revenue?
shirt sponsorship?
naming rights to St. James Stadium?

you want to compare Newcastle united as a money making entity and shooting stars. is that a joke?
guy, stop that rough play o!

What made Mike Ashely search for investment? Isn't it debt? Where were all the revenue generated? Why was there lots of player turnover in Newcastle? Let's look at the owners of Manchester United and Liverpool; why are they so hungry to search for investments outside the shores of UK? A few months ago, MANU went to Malayasia/Indonesia(not sure which country but I am sure it is one of them) in search of investment. Liverpool owners are highly indebted to banks that they decided to go look for a co-investor from the Middle East.
mbulela, I am into business and I am high wired in the profession. 3SC and other Nigerian clubs are a good investment on a long term as far as we improve on our democracy. We need to believe in ourselves.

It's only in Nigeria that they let a club with a great history to go down the drain. Don't we value anything in this country?

I thank God the only club never to have been relegated, Enugu Rangers is still kicking.

1. This is a direct effect of nigerians' fixation with foreign clubs. One can understand the obsession of the diasporans with such. But how does somebody explain the homebased nigerians doing the same.

2. The clubs should be run by private investors, not govt.

3. When will nigeria ever have a maintenance culture.