The players’ union headed by Harrison Jalla has petitioned the Serious Fraud Office in the UK to investigate an alleged fraudulent acquisition of NPFL commercial rights belonging to Next TV by Redstrike Sports Marketing Agency.
On September 1st 2020 the LMC/NPFL presented Redstrike as their new commercial rights owners even though Next TV had acquired these same rights last year.
“Redstrike had formally indicated an induced interest to acquire the NPFL commercial rights from the owners Next Digital Broadcasting through a letter dated 20th April 2020 only to fraudulently collude with the LMC to acquire the commercial rights the LMC has no powers to sell after huge sums of money was alleged to have changed hands,” Jalla stated in a press release.
“The NANF is therefore inviting the Serious Fraud Office (SFO) to investigate this matter in which Redstrike, a British corporate citizen, is involved in a fraud that is likely to jeopardize and negatively impact on the game of football for a very long time bringing the game and the image of Nigeria into disrepute.”
REPRODUCED BELOW IS LETTER BY REDSTRIKE REQUESTING TO COLLABORATE WITH NEXT DIGITAL BRAODCASTING ON THE NPFL COMMERCIAL RIGHTS
The Executive Chairman
Next Digital Broadcasting
38 Ahmed Musa Crescent
Jabi, Abuja, F.C.T Nigeria.
ATTN: Prince Malik Ado Ibrahim
DATE: 20 April 2020.
*RE: LETTER OF INTEREST PERTAINING TO THE ACQUISITION OF THE ENTIRE SHARE HOLDINGS IN NEXT DIGITAL BROADCASTING LTD (NEXT TV)*
The above subject matter refers.
Following our preliminary discussions with respect to a potential collaboration between Redstrike and Next TV on commercial opportunities arising from Next TV’s acquisition of the commercial rights around the Broadcast of the Nigeria professional football league and others, we have consulted extensively and we are now ready to advance matters.
We are therefore writing to advise that a redstrike-led consortium of investors/financiers is interested in developing all the commercial opportunities currently held by Next TV including but not limited to the NPFL commercial rights.
To this end we under the guise of this letter, submitting a formal interest in acquisition of the entire shareholding of Next Digital subject to
(a) the Agreement with LMC being in place,
(b) Satisfactory due diligence,
(c) Agreement on Commercial terms.
This letter does not constitute a binding commitment. The proposed acquisition shall be governed by definitive documentation and due diligence to be determined Redstrike its sole discretion.
This letter and its contents shall remain confidential and Next Digital hereby consents to a 45-Day Exclusivity period during which you will not engage in any discussions with third party pertaining to the sale, divestment of Digital or transfer of NPFL commercial rights.
Please confirm your willingness to open discussions on these terms. We attach our due diligence questionnaire.
We would be very grateful if you could arrange to have the questionnaire completed at your earliest convenience alongside your letter confirming Next Digital’s interest in advancing discussions.
This letter of interest shall be subject to English law and the exclusive Jurisdiction of English courts.
We look forward to your response.
Chief Operating Officer, Redstrike.