Unified Coaches: Don't repeat TTFA's mistakes

Robert Hadad, chairman of the FIFA-appointed normalisation committee, speaks at a media conference in March. Photo by Roger Jacob
Robert Hadad, chairman of the FIFA-appointed normalisation committee, speaks at a media conference in March. Photo by Roger Jacob

INTERIM president of the Unified Coaches of TT Jefferson George is hoping national football administrators learn a lesson from the bankrupt Trinidad and Tobago Football Association (TTFA).

George said football coaches and other stakeholders should not have to wait years to receive what is owed to them, as salaries must be paid on time.

On Thursday, TT Football Association (TTFA) creditors voted unanimously in favour of a debt repayment proposal through the Bankruptcy Act.

A TTFA media release on Thursday said the creditors will “receive based on the current validated claims anywhere from 63 cents on the dollar to 100 per cent of the monies owed to them.”

The meeting included representatives from the Office of the Supervisor of Insolvency; law firm Fitzwilliam, Stone, Furness-Smith & Morgan; Ernst and Young; and normalisation committee chairman Robert Hadad and member Nicholas Gomez. The normalisation committee was appointed in March, 2020 by Fifa to help find solutions for the TTFA which was facing insolvency.The debt was approximately $50 million when the normalisation committee was appointed.

George hopes the situation does not repeat itself as in some instances coaches have been waiting more than five years to receive payment.

“I am concerned that things like this do not reoccur…salaries are something standard, salaries should be paid based on your terms, if it is fortnightly (or) monthly. That’s when salaries are due,” George said.

“The sheer number of coaches that’s on the list shows the type of (situations) that coaches endure as it relates to salaries. I would hope that this is a turning point.”

Some of those who are set to benefit from the proposal are TTFA technical director Anton Corneal, former national men’s senior football coaches Stephen Hart, Dennis Lawrence and Russell Latapy and former TTFA technical director Kendall Walkes.

“It is to be expected that some people are going to be more pleased than others with their settlement,” George said.

Thursday’s meeting, held at the Home of Football in Couva, was chaired remotely by the Supervisor of Insolvency, who was in quarantine.

The TTFA media release, giving more details, said, “The proposal will be funded by an interest-free US $3.5 million instrument that the TTFA will have ten years to repay. Creditors owed up to TT$200,000 will be paid in full and the balances above that will be pro-rated. They will also have the option to be paid in US or TT dollars.”

Creditors were invited to vote after a comprehensive presentation by the TTFA appointed trustee, Maria Daniel, that gave a full illustration of how the TTFA found itself in its current state of debt and the options that were considered before arriving at utilising the restructuring option available through the Bankruptcy Act option.

The release said, “There were 299 creditors listed in the trustee’s repayment proposal with a total unsecured debt of TT $84.5 million.”

George said because of inflation those coaches who will be paid will suffer a loss.

“The money that you are now receiving, although it is not the full amount, it is also less in value.

“I am pleased to get to a point where we can start with current bills being paid on time. I think coaches are going to be satisfied and it is going to be a better situation going forward.”

Corneal, who was rehired as technical director in February under the normalisation committee, was owed money by the TTFA in a previous stint as technical director.

Corneal wants the focus shifted on the field. On Friday, he told Newsday, “I was just happy that this chapter in my life is closed and hopefully we can just move on and take care of the development of the game which should be our priority at this time.”

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