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| Chairman Hien must choose between Hanoi T&T or SHB Danang |
The decision is the first action taken by the newly established company jointly set up by the Vietnam Football Federation (VFF) and the chairmen of 14 V-League clubs. The firm, with 35.5% of stake held by VFF and the rest by the clubs, is attempting to resolve the deep-rooted malaise hanging over Vietnamese domestic football.
VPF has issued clear regulations stipulating that, “Clubs have to play their strongest team, with a match squad featuring at least six players having played in one of the five previous matches. Individuals and organisations are not allowed to own more than one football club in the same tournament. No individual nor member of their family is permitted to act as shareholder, partner, donor or consultant to other clubs or teams.”
The regulations will be submitted to the VPF’s shareholding general meeting scheduled to take place on December 14 this year.
Public concerns over ownership
Multiple club ownership in Vietnam is not rare. However, the situation where one individual acts simultaneously as chairman of two clubs in the V-League, is currently only seen at Hanoi T&T and SHB Danang.
Legally, Hanoi T&T club is under the management of T&T Sport Joint Stock Company, while SHB Danang is managed by the SHB Danang Sport Joint Stock Company. They are two different companies, but since competing against each other in the V-League since 2009, many football fans and chairmen of other clubs have doubted the independence of their relationship.
Everyone is aware that both teams are owned by Do Quang Hien. Despite the obviously conflict of interest and accusations of foul play, the VFF stood powerless to resolve the issue as it lacked regulations to deal with the anomaly. The VFF also insisted it had found no wrong-doings in the management of either club despite annual investigations.
According to the Vietnam News Agency, the T&T Group official website says that Hien is both Chairman of the T&T Group and Saigon-Hanoi Commercial Joint Stock Bank (SHB), which confirms the relationship between T&T and SHB-Danang.
However, Hien denied the accusations of owning both clubs, saying that he was just a fan. Once the regulations of VPF approved, he will be forced to select T&T or SHB-Danang as his sole club.
Independent auditing board
VFF leaders and representatives from the football clubs agreed the operation model for the VPF. As a multi-functional firm, the VPF will operate in different areas and have an independent auditing board. According to VFF Vice Chairman Le Hung Dung, “the VPF will operate as a financial company so it won’t be difficult to deploy an independent auditing board.”
VFF Vice Chairman Pham Ngoc Vien is likely to be selected as the Director of the VPF. Duong Nghiep Khoi, Former Head of V-League’s organising board, and Pham Phu Hoa, Managing Director of Dong Tam-Long An FC will probably be confirmed as deputies.
www.dtinews.vn
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