Friday, March 11, 2011

MCYS Teo miss the point

For me, Senior Parliamentary Secretary for the Ministry of Community Development, Youth and Sports (MCYS) Teo Ser Luck miss the point when he talk about increase in funding for Singapore football in Parliament as I noted before in POV it is not funding but the fact that SSC (under his watch) has scooped as much money out of Singapore football.

By combining all the figures, he wanted to show Singapore football have been given a lot of money but as he admitted, most of it is from private sources.

Indeed, SSC under him has adopted a one hand in one hand out system and I can say 60% of the money given out by SSC this year will be given back. (Based on the estimate given out by clubs when they called their press conference)

That is the major sticking point why, financially speaking, Singapore football have struggled to keep it head above water.

We have to remember what SSC give out come from the government yet what it received from Singapore football come from private sources.

With local clubs - especially middle-tier to lower-tier clubs - finding it difficult to find money from private sources, it is like the Kaiji character (in the movie not the amine) who constantly finding himself having to pay interest that wiped out most of his winnings.

What money they received from sponsorship are mostly given to SSC.

It wiped out any gains and with recent changes to the jackpots takings which favour casinos, the odds are stacked against local sport even more.

Also the more money SSC or SingaporePools give out, the more money that will go into SSC coffers as let not forget more youth teams are now created from SSC money meaning the need for pitches thus more rental while SingaporePools money will see clubs having to maintain COEs teams which again mean more rentals.  

That is why without a review of SSC subsidy system, I can see SSC being the winner in all cases as their commercial rates rental will sooner or later gobble up a significant part of the money they 'give away'.

Like Kaiji, Singapore football will not be allowed to keep the money to develop their industry.

That is the point, Mr Teo.

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