Wednesday, September 16, 2009

Financial Crisis Rocks Ranchers Bees

One of the newly-promoted clubs to the Globacom Premier League, Kaduna United, is facing financial quandary ahead of its opening game this Sunday with Gombe United.
It appears that the club would have to begin the new campaign without funds after its plans with one of the country’s banks appears to have collapse in the face of ongoing investigation by the Central Bank of Nigeria (CBN) into the activities of banks in the country.
The management of the club had hoped that its move to secure a huge loan from the bank would sail through as at two weeks ago until the apex bank began investigation into the banking sector made nonsense of the proposal.
Though the bank is yet to come up with reasons for delaying in its agreement to make funds available to the Kaduna-based club, it is believed that the bank wants to keep its books clean in the eventuality of being asked to present it by the CBN.
With this development, the management is at a loss over how to raise money to prosecute the side’s campaign in the Globacom Premier League.
Already, the management is exploring the option of going cap in hand to meet the Kaduna State government for financial assistance just like Kaduna United, another Premier League side, which is solely financed by the state government.
It is understood that the situation is bad that none of the players have been settled debts owed them while no one has been handed a new deal yet for the new season.
However, players and officials of the club are waiting for the return of the general manager, Honourable Abdulazeez Mohammed, from Mecca this week to solve the financial handicap of the side.
In spite of working with the club since it won promotion, technical adviser of the side, Ganiyu Salami, still does not have a contract in place.
It has been learnt that the reason for the contract of the former Golden Eaglets’ head coach still pending is due to the fact that Ranchers Bees cannot afford to allow Salami put pen to paper when there is paucity of funds.
Barring any hitch in the inspection of the stadium in Kaduna, Ranchers Bees would play host to Gombe United in its first game of the Globacom Premier League season for 2009/2010.
Ranchers Bees is making its return to the top-flight of professional league football in Nigeria after more than two seasons in the lower league.

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