MFL close to signing sponsorship deals for M League
Last update: 18/04/2019
KUALA LUMPUR, April 18 (Bernama) -- Teams competing in the Malaysia League (M League) 2019 season can heave a sigh of relief now that the Malaysia Football League (MFL) is expected to disburse annual grants soon.
MFL CEO Kevin Ramalingam said following the termination of the contract with Telekom Malaysia Bhd (TM), MFL is now in the final stage of negotiations with several entities to sign sponsorship contracts to sustain the participation of teams in the M League.
He said MFL expects to settle all matters connected with new sponsorship contracts in about four weeks before disbursing the grants to every team.
“Before this, negotiations were at the stage of expression of interest but now we have entered the phase of serious talks whereby signing is possible, and I hope in four weeks’ time all contracts can be inked.
“The MFL is committed to finding successors who will be more supportive of us in the long term. We have also met with the teams to explain the latest status regarding the negotiations,” he said when met at the draw for the FA Cup quarterfinals here today.
According to Kevin, as of now, the annual grant is still RM3 million for Super League team and RM1 million for Premier League team but the figures could change depending on the amount of sponsorships secured.
“The target is still the same; we try to get the same amount as we did previously but it all depends on the contracts that can be signed,” he said.
He also advised all teams to have long-term financial planning to avoid running into financial problems.
For the record, MFL previously signed an eight-year agreement starting January 2017 for a sum said to be around RM480 million to manage the M League.