MFL: Funding 2020 doubtful, 2021 on profit sharing

This was a crucial announcement that most main stream media failed to pick up.

The joint MFL and FAM President, the flamboyant, swashbuckling and charming ( only to the eyes of his cronies) had stated that from 2021 the MFL will only pay out yearly grants based on the profit/loss at the end of the season.

Perfectly acceptable and correct procedure for a company.

However one wonders why the Secretaries of the Selangor FA and Kedah FA did not this an issue given the fact that it will be easily 20 months from payment of these so called life saving “ grants” that teams are so hard up for.

Well for those who may not remember, at one time the teams used to receive RM125,000 and RM75,000 for grants in the M League.

And that too was paid in 4 instalments!

However no club winded up then so why the big deal in crying out loud for grants now.

Ok granted the announcement was late, but just look at the matches aired in TV over the year, there were hardly few, with exception to Iflix, which it is learnt is in a legal wrangle with MFL.

The so called RM38 million deal with TV platform was never going to materialise, a kind of fiction story.

But what indeed would have been news was when HAMIDIN stated that they were negotiating with Astro and Media Prima for a broadcast deal,

Media Prima? Excuse me President, have your 4th floor chaps not informed you that the company is likely to retrench 1,000 odd staff who will receive their letters today.

And you expect them to step in to save Malaysian Football?

Anyway just for readers info, I want to share somewhat what transpired three months ago that probably, remember probably and not surely, what was said to the MFL stakeholders last Saturday.

Read on …..

It was in early October that I last sat down with double President of FAM and MFL at PJ Hilton.

In attendance was FAM Vice President Dato Sivasundram.

That was my first meeting with Dato Hamidin Mohd Amin after I had an audience with HRH Tuanku Ismail on May 29.

We had a strained relationship ever since that audience.

Anyway at the start of the conversation Hamidin passes a remark that somewhat jolted me.

“ Who do you think is best or will be interested to head MFL,” asked Hamidin.

My retort was simple , no one will be willing to risk taking over MFL in its present dire condition.

And so I went on to offer my two cents advice to the Double President

Firstly look at the contract signed with stakeholders as I had written that only a certain percentage of the broadcast money was to be shared with the stakeholders.

I was unsure with regards to the percentage but was sure it was only limited to broadcast money as I had studied statements issued in the past through the various media.

I further explained that if it was only limited to broadcast income, that meant that the commercial income was not necessarily shared,

A quick phone call by Hamidin confirmed that it was broadcast money,

Next was the issue of the balance to be paid to stakeholders.

My explanation was simple – if there is no broadcast deal then there is nothing to pay out.

Given that they had already parted with RM24 million, with no broadcast deal, it meant nothing was to pay out anymore.

And then Hamidin raised the issue of the forthcoming season.

Which then brought up the discussion and proposal.

MFL should only pay out at the end of the season, after taking into account operational costs and the profit shared proportionately amongst teams based on which leagues they played in.

Meaning like any other company, it all depends on the profit and loss statements to determine the bonuses, which is what stakeholder ( read as shareholders) are entitled to.

And looking at the media reports plus the media release from MFL, I am Glad to have given the idea to the President that he accepted and implemented.

No I am not out for glory or to claim credit.

Not was I paid anything for the free advice unlike what some of the President’s henchmen ate going around saying.

I did it for the peanuts that they served on the table that morning…

So go chill, as my relationship with the President is back on ice.