VietNamNet Bridge – The Ministry of Culture, Sports and Tourism has passed the Vietnam Football Federation’s (VFF) proposal to establish the Vietnam Professional Football JS Company to run the country’s top-ranking V-League.
With the approval, the VFF will finalize the company’s regulations and submit it to the Ministry of Culture, Sports and Tourism for approval. VFF will have to perform other administrative procedures and collect signatures of 24 football clubs.

The Ministry of Culture, Sports and Tourism has asked the Hanoi authorities and competent agencies to assist VFF to complete necessary procedures to quickly set up the firm to run the V-League and the First Division 2012.

It is expected that the company will be established on November 15. On November 26, VFF will organize the first shareholders’ meeting with 25 shareholders; including VFF, 14 V-League clubs and 10 First Division clubs. On November 27, the company’s chair and members of the management board, the general director and the chief of the supervision council will be elected.

The company’s chartered capital will be VND30 billion ($1.5 million). VFF will contribute 35.6 percent of the capital.

PV