Gibson
Paul-Andre Walker, Staff Reporter
THE JAMAICA Football Federation's (JFF) Finance Committee have embarked on a five -year programme that may lead to the sale of its office.
The plan proposes the sale of its office at 20 St. Lucia Avenue, New Kingston in order to take care of its heavy debt. At present, the JFF has an overdraft of over $13 million.
To short-circuit that proble and get investors to pump money into the organisation, the Finance Committee has come up with a three-part proposal that looks at changing the way the company does business.
The plan was presented to the JFF's Board of Directors and hinged on a kick-start that would require a large capital influx.
"The plan includes a new thinking about sponsorship, a new thinking about TV rights, a new thinking about merchandising," explained JFF treasurer Carlton Barclay in a telephone interview last night.
According to investigations done by The Gleaner, the plan, if brought to fruition, will account for an earning potential of approximately $450 million.
Along with that plan, rumours also surfaced that JFF General Secretary Burchell Gibson has resigned. His resignation was said to be as a result of the recommendations made by the Finance Committee.
However, in a press release issued by the JFF yesterday morning, they denied Gibson's resignation saying: "There is no truth to the rumour that the General Secretary of the Jamaica Football Federation, Burchell Gibson has resigned."
The same press release did give credence to the possibility of the office's sale though, as they announced a press conference to reveal details surrounding the JFF building tomorrow.
Selling the St. Lucia Avenue home of the JFF might not be so easy though, as The Gleaner investigations have revealed the JFF building is registered in the names of two unnamed executives from the previous administration - that was led by Captain Horace Burrell - in trust for the company.
The Office, after being bought from Life of Jamaica for $24.7 million in 1998, has been valued by the Jamaica National Real Estate Company at $48 million with a 'Forced Sale' value of $40 million.
