SONG LAM NGHE AN TO BE CORPORATISED

Under the agreement which was reached recently, Lilama would provide SLNA with VND25 billion (USD1.47 million) for the current V-League season.

Lilama want to buy out SLNA to turn them into a subsidiary of the group – a company with the total capital of VND100 billion (USD5.88 million).

They also want to make the club one of the top five football teams in Vietnam within the next five years.

According to the deal, SLNA would also have their own training centre, hotel, sports supermarket among others – just like a professional European football club.

However, Lilama would not officially take over SLNA until 2010 because at this moment, SLNA are unable to operate as a business.

This year, Lilama plan to give a VND25 billion package to SLNA – a record high for a team playing in V-League.

According to SLNA, this sum is sufficient for them to raise the salaries and bonuses of their players and coaches and also to buy some foreign players for the second phase of V-League 2009.