V-League management model: Another controversy.

This was the assertion made by club owner Nguyen Duc Kien in response to skeptical comments from the Review Board of the Ministry of Culture, Sports and Tourism when evaluating the proposal to establish V-League JSC submitted by the Vietnam Football Federation (VFF).

Mr. Kien (center) believes that if not managed well, even a limited liability company can go bankrupt.

Following the Ministry of Culture, Sports and Tourism's (VH-TT-DL) criticism regarding the proposal to consider a limited liability company (LLC) model to manage and organize V-League events instead of a joint-stock company (V-League JSC), the club owners and authors of the proposal are now worried that the revolution in the V-League will be a half-hearted and incomplete one if the LLC model replaces the joint-stock company.

VFF President Nguyen Trong Hy said: “The voice of the club owners in changing the V-League management model remains very important. If VFF experts, representatives of the club owners, and state management agencies reach a high level of consensus on how to establish a V-League management company, then we will implement whatever model it is.”

The Ministry of Culture, Sports and Tourism has assigned the entire task of evaluating the above project to the General Department of Sports and Physical Training. Regarding the feasibility assessment of the project, Mr. Vuong Bich Thang, Director General of the General Department of Sports and Physical Training, said: “We are still allowing the VFF to take the initiative in promoting the project to become a reality as soon as possible. The idea of ​​a limited liability company model instead of a joint-stock company to manage and organize national football leagues is still being evaluated and considered.” According to Mr. Thang, there have been dissenting opinions regarding the project within the VFF itself.

The "conductor" of the above project, Pham Ngoc Vien, Head of the Professional Football Committee and Vice President of the VFF, also resolutely refused to answer any questions about whether there would be any "adjustments" to the V-League JSC project.

Mr. Nguyen Duc Kien, who was directly commissioned by the club owners to develop the V-League JSC project with the VFF, said: “Currently, I haven't heard about any adjustment from a joint-stock company to a limited liability company. However, according to what I and the VFF have agreed upon, the establishment of a joint-stock company to manage and organize V-League events is almost certain.” Mr. Kien also said: “Regarding risks, there isn't much difference between a limited liability company and a joint-stock company. If management is poor, any company will go bankrupt. As for manipulation, I think these two company models operate under the Enterprise Law, so only someone who doesn't understand the law would talk about manipulation.”

Bau Kien argued that the joint-stock company model is the optimal model, having been refined and applied in many countries. It is the model with the highest chance of success when implemented.

Mr. Doan Nguyen Duc, Chairman of HAGL Club, also expressed a strong opinion: "They cannot arbitrarily adjust the company model without consulting us." According to Mr. Duc, a joint-stock company is the most advanced model, and the company managing the V-League must become a publicly traded company to mobilize significant resources from society. If it remains a limited liability company, it will be very difficult to create breakthroughs for the V-League.

According to Nguoi Lao Dong newspaper.