THE Premier League Management Committee (PLMC) has issued a circular informing premier league clubs that it will not be able to stage both the MGC Extravaganza and LNIG Top 8 tournaments due to the financial meltdown brought about by the COVID-19 pandemic. T

The league governing body says it has already held meetings with the Matekane Group of Companies (MGC), the main sponsors of the MGC Extravaganza, with the hope of extending the partnership.

It also held similar meetings with the LNIG, the official sponsors of the Top Competition of the last nine years.

The MGC Extravaganza was scheduled to be staged in March. However, the two companies have since warned the PLMC that they will not be able to finance the tournaments this year as their financial allocations do not cater for the competitions.

“PLMC had a meeting with the Matekane Group of Companies that sponsors the MGC Sports Extravaganza that was anticipated to be held in March and the Lesotho National Insurance Group “Hollard” that has been an esteemed sponsor of the LNIG Top for nine years, in the hope of renewal partnership after the terrible years without the two tournaments due to the prevailing circumstances,” the statement from PLMC said.

“Both companies commended PLMC for their insightful proposals and interest for a good cause. Unfortunately, we were made aware that the financial allocation of their current quarter does not cater for competitions.

“The two competitions were not able to play over the last two years with sports and football activities suspended because of the COVID-19 pandemic.

“Doing this would cost the companies a loss which is really huge. In all honesty, they really wanted to sponsor their respective tournament as per their capacity, but they reiterated that they are bound to follow the financial policies of their organisations, to make it stable for some time. PLMS regrets to inform you that because of the reasons mentioned above, there will be no MGC Sports Extravaganza and the LNIG Top 8.”

Butha Buthe’s Lifofane were the last team to win the last edition of the MGC Extravaganza tournament, which was held in March 2020 at the Bocheletsane Sports Complex in Mantšonyane, Thaba Tseka.

LDF won the last installation of the LNIG Top 8 in 2019.

The 2020 tournament was interrupted by the outbreak of COVID-19 leading to the suspension of football activities for almost eight months in the country.