Nigeria's Lobi Stars To Be Privatised Next Month

The owners of the Nigerian premier league club are to hand it over to private management by September 1.

Goal.com has scooped that Benue State Government, owners of Nigerian premier league outfit, Lobi Stars, are close to handing the club over to private owners for the next three years.

Benue State Government are the sole financiers of Lobi Stars, but they are now close to sealing an agreement that will see a private businessman, Richard Edewor, take over the reins of the club in a lease agreement.

In the '90s, Edewor was involved with Concord Football Club of Lagos, then owned by his father-in-law, the late Moshood Abiola. He was also involved in player management.

Officials told Goal.com that Edewor is expected to sign this lease agreement on September 1. He will source for sponsorship and funding for the club, with the government only providing a take-off grant.

Reports have already suggested that Edewor has opened an affiliation with a top overseas club as part of his efforts to make this take-over a success.

Bulgarian coach, Mitko Dobrev, who until recently was with Heartland of Owerri, has already been contracted to lead the club who barely escaped relegation last season.

It is also believed that vice-chairman and former international, Dominic Iorfa, will also still be involved with the Makurdi club.

Samm Audu, Goal.com