I inherited over N200m debt, Lobi Stars chair laments
From Uche Nnorom, Makurdi
The Chairman of Lobi Stars FC, Terver Ikya has lamented over huge debts exceeding ₦200 million he inherited on assumption of leadership of the club.
He said the club’s liabilities has continued to rise, but stated that efforts are being made to liquidate them and ensure the team return to top flight of Nigeria football league .
Speaking on Wednesday with Sports journalists while giving an overview of the club’s performance this season in the Nigeria National Football League, NNL, Ikya said he faced challenges in low morale, unresolved coaching disputes, and a bloated squad of 67 contracted players.
He criticised the previous administration for running the club “like a charity organisation,” insisting that Lobi Stars must be managed professionally.
He said, “one notable financial burden involved a coastal bus loan, with a court judgement ordering the club to pay ₦47 million” .
Ikya also revealed that the club is entangled in more than 16 arbitration cases, including one with former coach Daniel Amokachi.
He said despite the hurdles, Lobi Stars put up a sterling performance finishing second last season, just narrowly missing promotion back to the Nigerian Premiership.
Ikya reaffirmed his determination to gain promotion to the Nigeria Professional Football League, NPFL
“Our target this season is promotion. My first interventions was to return the team to Makurdi, after a costly displacement to Nasarawa that deprived the team of home support.
“I also streamlined the squad to 35 players, with five promoted from the youth team, and insisted that recruitment would be strictly merit-based,” the club boss said.
On sponsorship, Ikya confirmed that the club is seeking major partners for kits and other needs while denying rumours of delayed staff payments, attributing it to a transition to Novus Bank, assuring that salaries are now being paid.
He said in spite of financial strain, the Nigeria National League recognised Lobi Stars as one of the most disciplined teams, while Benue State Governor Hyacinth Alia was honoured as the best supporting club sponsor.
“Now that we have the opportunity to recruit our own players, I don’t think we have any excuse not to be promoted,” Ikya said with optimism.
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