Officials of the Vietnam Football Federation (VFF) and owners of the top-tier V-League and second-tier First Division clubs will meet to settle differences over the model of a company that will manage the two leagues.
VFF vice chairman Pham Ngoc Vien Tuesday said club owners want a joint stock company but the federation and the Ministry of Culture, Sports and Tourism want it to be a limited liability company.
"To settle the differences, we will hold a seminar before the annual meeting. We will invite all the clubs to visit Japan Football Association (JFA) and the Korea Football Association from November 10-16."
According to Vien, the company that takes care of organizing the Japanese league is not a joint stock company. The clubs pay life-time membership fees and annual fees rather than buy shares.
Vien said JFA spends the money doing business activities but distributes the profits to clubs rather than taking the profits for itself.
JFA gets 3 percent of the ticket money sold by the clubs. The Japanese government provides full financial support for the country's national teams.
Apart from J-League, JFA is entitled to organize other activities, like the friendly match with Vietnam (on October 7).
According to Vien, the Asian Football Confederation suggests that football associations or federations in Asia adopt the Japanese model.
Vien said, "VFF is not afraid that the clubs will control everything, but the federation wants to prevent all the possible negative activities. If it is a joint stock company, the company, pursuant to the commercial law, has the right to issue shares on the stock market.
"We are afraid that some organizations and individuals will buy shares at the clubs at high prices and control the leagues. That would be too risky. When making plans for this company (to be established), VFF wants limited activities from the beginning to prevent the worst possible problems."