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PUBLISHED: Apr 14, 2017 12:04pm

FAM could lose RM34 million in court cases

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Source: Bernama Source:
Bernama

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KUALA LUMPUR, 14 April 2017:

The Football Association of Malaysia (FAM) may lose RM34 million if it loses two court cases, involving MP & Silva and another company, over two agreements it signed to send the Harimau Muda development squad to Slovakia.

FAM president Tunku Ismail Sultan Ibrahim said it was likely there would be no allocation for the national squad and teams competing in the Malaysian Leagues, following the two court cases.

In his latest entry in the Football Association of Malaysia (Official) Facebook yesterday, he slammed the previous excos for their irresponsibility in signing agreements that were not favourable to FAM.

“I am very disappointed with the previous exco lineup in FAM who were irresponsible. FAM is currently facing two cases, namely, one with MP & Silva, in which case if we lose, FAM will have to pay RM25 million and an additional RM9 million more, if we lose to another company we entered into an agreement with to send the Harimau Muda development squad to Slovakia.

“How could FAM sign an agreement that is more favourable to others? Rightly, priority, advantages and financial security and whatever interests should be in FAM’s favour but now what happened were weak agreements were signed by FAM which placed the parent body in a difficult situation.

“At the moment, it seems, although FAM will be receiving money, the money will still surely be given away if we lose the cases.”

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