VietNamNet Bridge – The Vietnam Football Federation (VFF) and representatives of football clubs on October 10, agreed to quickly establish the Vietnam Professional Football Company (VPF) to run the V-League 2012.
Only 11 days after VFF met with 28 FCs at the V-League and the First Division tournament on September 22, VFF set up a working group to implement the VPF project.

On October 10, VFF Chairman Nguyen Trong Hy and Vice Chairman Pham Ngoc Viet met with Nguyen Duc Kien, who represented FCs to discuss the establishment of the VPF.

VFF’s officials agreed with the VPF model, presented by Kien, and the legal status of this company. Accordingly, VFF will manage the firm in terms of professional aspect while the Ministry of Culture, Sports and Tourism (MoCST) will manage the firm legally.

After the meeting on October 10, VFF will submit the project to the MoCST. If the ministry approves it, VFF and FCs will continue considering details.

A VFF official said that this project is warmly supported so VPF can come out in October.

According to the plan drafted by FCs, the Vietnam Professional Football Joint Stock Company will be set up to run the V-League as developed countries do. This is also the model that the FIFA recommended Vietnam to follow.

Accordingly, the Vietnam’s football governing body, VFF contributes VND7.875 billion or 35.6 percent of the share capital of the company, while 14 V-League clubs each contribute VND1 billion (US$48,100) to hold totally 64.4 percent.

As shareholders of the company, both the VFF and 14 clubs will have the rights and responsibilities in making major decisions, including the hiring and firing of the company personnel.

The company will work on behalf of the VFF and clubs to take full responsibility towards match attendance, refereeing, and other organization tasks in running competition at the league.

The company will hold annual shareholders’ meetings under Vietnam’s business law.

PV